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NZD/USD Forecast | Daily Technical Analysis for January 3, 2017

Nzd/usd forecast

NZD/USD Forecast | Daily Technical Analysis for January 3, 2017

NZD/USD Technical Overview

Yesterday Closed 0.6921
Today Open 0.6921
Day’s Range 0.6921 – 0.6974
52 wk Range 0.6346 – 0.7487
1-Year Return 1.31%

NZD/USD Technical Support and Resistance

Nzd/usd forecast: NZD/USD pair possibly will find the immediate support at 0.6911. If, market breaks the first support then it will go for the following support to test. Following supports are 0.6898 and 0.6876.

On the other side the market has immediate resistance at 0.6955. If, market breaks the primary resistance level then, market will go for the new resistance level 0.6968 and 0.6990.

Possible trading range for today 0.6921 – 0.6974

NZD/USD Fundamental Analysis Forecast

The NZD/USD pair had a volatile day on Friday as traders squared up positions for the end of the year. We ended up forming a slightly supportive candle but I still think that the 0.70 level above is massively resistive, as it was supportive. An exhaustive candle is reason enough for sellers to get involved again, reaching towards the 0.68 as a result. I have notched in buying, the US dollar continues to be the strongest currency in the world, and I don’t see the New Zealand dollar being the exception to the rule.

 

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