NZD/USD Technical Analysis
The NZD/USD pair broke higher during the course of the session on Thursday, testing the 0.75 level. That being the case, the market looks like it’s trying to break out to the upside but we see far too much in the way of resistance above to start buying. We believe that any rally at this point in time should be a selling opportunity going forward, and we will look for resistive candles to take advantage of selling opportunities. On the other hand, if we break down below the bottom of the hammer from Wednesday, this would be a massively bearish sign, as the market should then head to the 0.72 level.