NZD/USD Forecast April 28, 2017, Technical Analysis

The New Zealand dollar initially tried to rally during the day on Thursday but turned around as we continue to see very bearish pressure. The market has found a little bit of support at the 0.6850 level, but I think if we can break down below there, the market will then go looking for the 0.67 level. Rallies this point should be selling opportunities on the first signs of exhaustion, at the New Zealand dollar has clearly broken down significantly. At this point in time, I see no buying opportunity in this market.

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