NZD/USD Price Forecast March 13, 2018, Technical Analysis

The New Zealand dollar initially fell during the trading session on Monday, reaching down towards the 0.73 handle. There is a lot of noise in this area, so I think it’s only a matter of time before we rally from here, so I think that ultimately the market participants will look at this as value and should continue to see buyers waiting to jump into the marketplace. If we can break above the 0.7350 level, the market should continue to go even higher, perhaps reaching towards the 0.75 level after that.

I believe that the market has more than enough reasons to go higher, because we are in a general “risk on” attitude longer-term, and that will continue to benefit the New Zealand dollar. If the commodity markets rally, that will also have a positive influence on the New Zealand dollar, so keep that in mind as well. To a lesser extent, the stock markets also do the same thing. I believe that the overall attitude of the markets will continue to be bullish, but I would start out slowly and then adding on dips show signs of support. Ultimately, I anticipate that the New Zealand dollar will benefit from the overall attitude of the markets, but it is a very illiquid pair at times, so keep in mind that the moves could be very violent, and the pair should be approached with caution.

Economic Calendar