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NZD/USD Forecast February 28, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 28, 2017, 05:22 UTC

The NZD/USD pair rallied a bit during the day on Monday, as we continue to see bullish pressure. Overall though, we have been consolidating so we need to

NZD/USD daily chart, February 28, 2017

The NZD/USD pair rallied a bit during the day on Monday, as we continue to see bullish pressure. Overall though, we have been consolidating so we need to break above the 0.7250 level in order to continue going higher. I believe that pullbacks continue to offer buying opportunities and that there is a massive amount of support near the 0.7150 handle. Ultimately, we should then reach towards the 0.7350 level above, and perhaps even break above there. Regardless what happens, you can expect a lot of volatility as the market will chop around.

NZD/USD Video 28.2.17

Watch our NZD/USD Video Forecast:

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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