NZD/USD daily chart, December 01, 2016

NZD/USD Forecast December 1, 2016, Technical Analysis

The NZD/USD pair rallied initially during the day on Wednesday, but turned around as the previous uptrend line is now acting as resistance. With this, I believe it’s only a matter of time before the market continues to go lower and go reaching towards the 0.70 level below. If we break down below there, this market should continue to go much lower. I have no interest in buying, as the US dollar is one of the strongest currencies in the world right now, and with that I feel this market is one you can’t trust to the upside.