NZD/USD Forecast April 27, 2017, Technical Analysis

The New Zealand dollar cratered during the day on Wednesday, as we are reaching towards a fresh, new low. I believe that the market is going to continue to go lower from here, and currently think that the 0.67 level will be the next target. It will bounce from time to time, but that should offer a selling opportunity to shorter term traders. With this, I remain very bearish of this market and believe that the 0.67 level will be much more supportive. Expect choppiness, but an overall downtrend has shown itself yet again.