NZD/USD Price Forecast August 18, 2017, Technical Analysis

The New Zealand dollar was very choppy during a volatile session on Thursday, as we have recently broken above a downtrend line, signaling that perhaps we continue to go higher. Because of this, I am bullish of this market but I recognize that the 0.7350 level above could offer a bit of resistance. Ultimately, this is a market that I believe continues to struggle overall, as the markets have been very bullish and the short-term, and now may need to catch their breath. If we break down below the 0.7250 level, then I think the market continues to go much lower. We are in an inflection point, but it may take a couple of sessions to break out, or even break down.

NZD/USD Video 18.8.17