NZD/USD Weekly Forecasts

 

The New Zealand dollar has gone back and forth during the week, as we continue to bounce around between the 0.68 level on the bottom, and the 0.70 level on the top. We did break above there momentarily, but if we can break above the top of the candle stick, I think the market reenters the longer-term consolidation and it should send this market looking towards the .74 region.

Alternately, if we break down below the 0.68 handle, the market probably goes down to the 0.65 level, possibly even lower than that. However, we have been consolidating for a couple of years. I anticipate it’s easier to go higher than lower.