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NZD/USD Forecast September 28, 2016, Technical Analysis

By:
Christopher Lewis
Published: Sep 28, 2016, 04:59 UTC

The NZD/USD pair initially tried to rally during the course of the day on Tuesday, but turned around to form a shooting star. With this being the case,

NZD/USD daily chart, September 28, 2016

The NZD/USD pair initially tried to rally during the course of the day on Tuesday, but turned around to form a shooting star. With this being the case, looks as if we are going to continue to drift back and forth, perhaps to a lower level such as the 0.72 level below. That is a massive amount of support just waiting to happen, so I think this is a short-term back and forth situation going forward. If we did break above the 0.7350 level though, I feel the market will then reach towards the 0.75 handle.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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