NZD/USD Forecast April 29, 2016, Technical Analysis

The NZD/USD pair rose during the course of the session on Thursday, testing the 0.70 level. That is an area that is massively resistive, so the fact that we pulled back from there slightly is not a huge surprise. If we can break above the top of the shooting star that formed at that level, it would be likely that it would become a “buy-and-hold” type of market. Pullbacks should invite buyers to get involved, as it would represent value in a very bullish market that seems to be prepared to grind much higher.