NZD/USD Forecast April 5, 2017, Technical Analysis

The New Zealand dollar initially tried to rally on Tuesday but then crashed to a low-price near the 0.6980 handle. If we can break down below the bottom of the range for the Tuesday session, I believe that this market will reach towards the 0.69 handle underneath. I don’t have any interest in buying, to me it looks as if the sellers are becoming more aggressive, and therefore I feel that the New Zealand dollar will drop from here. A break above the top of the range for the session on Tuesday could have me changing my mind though.