NZD/USD Forecast August 28, 2017, Technical Analysis

The New Zealand dollar rose during the trading session on Friday, as the US dollar got pummeled. By breaking above the 0.7225 level, I think that the market will probably try to go higher from here. However, I don’t know if it’s a longer-term move, and therefore I believe that short-term buyers may take over the market, but longer term selling pressure could return, especially near the 0.73 level above. If we break to a fresh, new high over the last couple of weeks, we could then go looking towards the 0.75 level after that. However, I think it’s going to take a significant amount of momentum to make that move, so therefore I am more likely to fade this rally than anything else.

NZD/USD Video 28.8.17