NZD/USD Forecast April 6, 2017, Technical Analysis

The New Zealand dollar initially tried to rally on Wednesday but found resistance at the previous support and then fell apart. Because of this, I feel that the market is probably going to reach towards the 0.69 level over the next session or so. I believe that the New Zealand dollar will continue to test support below there, and if we can break below the 0.6850 level, that would be a very bearish sign. Until then, I’m looking for small shorts only and don’t believe that a longer-term trade happens until we break back above the 0.70 level.

Eracash.com - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com