NZD/USD Forecast April 20, 2017, Technical Analysis

The NZD/USD pair initially tried to rally but rolled over and tested the 0.70 level. If we can break down below there, the market will then more than likely go looking for the 0.6925 handle. Ultimately, this is a market that will probably be choppy, but I think that the New Zealand dollar is going to continue to be a bit soft. If we can break above the 0.71 handle, the market should then go to the 0.72 level above there. Either way, I think it’s going to be difficult trading and short-term at best.

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