NZD/USD Forecast April 18, 2017, Technical Analysis

The NZD/USD pair had a bully session on Monday, breaking above the 0.70 level. However, the market sees quite a bit of resistance near the 0.71 handle, so having that being the case it’s likely that we will continue to chop around. I don’t have any interest in trading this market, I believe that we need to break above the recent high from March to start buying, but an exhaustive candle could get me short for a small move as we with more than likely go looking for the 0.69 handle below which has been the bottom of consolidation.

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