NZD/USD Forecast April 19, 2017, Technical Analysis

The New Zealand dollar rallied during the day on Tuesday, testing the highs again. I believe that the market is trying to get to the 0.71 handle above, which has been significant resistance in the past. Because of this, I believe that short-term buyers may jump into the market, but I’m not looking for anything major to happen. I believe that we are stock in consolidation, and will more than likely stay there for the foreseeable future as there are a lot of concerns geopolitically around the world. If we get an exhaustive candle near the 0.71 level, I would be willing to sell.