NZD/USD Forecast April 17, 2017, Technical Analysis

The NZD/USD pair initially fell during the Friday session but found enough support underneath the 0.70 level to bounce and form a bit of a hammer. It now looks as if we will continue to grind higher, perhaps reaching towards the 0.71 handle. It’s not until we break above there that I think we can go much higher, so this is a short-term buying opportunity, but it becomes longer-term above the 0.71 handle. I see a significant amount of support at the 0.6950 level, so therefore I’m not interested in selling quite yet.