NZD/USD Forecast August 24, 2015, Technical Analysis

The NZD/USD pair broke higher during the course of the session on Friday, but as you can see still remains within the overall consolidation area. We believe that this market has significant resistance of the 0.6750 level, and as a result we are looking for resistive candle in order to start selling as the New Zealand dollar has been so bearish for months now. We have no interest in buying, at least not until we get well above the 0.70 level which could signal a potential trend change. In the meantime though, we have to remain bearish.