Yahoo Finance NZD/USD Forecast September 22, 2017, Technical Analysis
The New Zealand dollar has been volatile lately, but it looks as if we are going to try to roll over again. The market has been decidedly bearish after the Federal Reserve suggested that perhaps it was going to step away from quantitative easing much quicker than people anticipated, which is odd considering that they essentially stated the same thing that they have in the past. There were a lot of people in the marketplace that considered the disaster hurricanes hitting the United States to be reason enough for the Federal Reserve to step away. However, they certainly don’t seem to be too concerned about that and therefore is likely that we will proceed. If that’s the case, the US dollar can strengthen a bit, and we could continue to go much lower in this pair. Alternately, if we were to break to a fresh, new high then I think it’s all but assure that we will be testing the 0.75 handle above which of course has a certain amount of psychological and structural resistance built in.
Volatility should continue
No matter what happens, I think volatility will continue this market as it is a highly influenced by commodities. It has been a choppy affair over the last several hours on the chart, but certainly we have turned a bit of a corner as the market has rolled over significantly. With the type of negativity, the jump into the market during the session on Wednesday, it’s hard to believe that it could be a “one-off”, and therefore I think that the market is probably trying to tell us something, that perhaps we will have to go looking for the 0.72 level below. Again though, if we were to rally I’m not going to argue with this market, I will simply follow.
NZD/USD Video 22.9.17
This article was originally posted on FX Empire
