NZD/USD Forecast August 3, 2015, Technical Analysis

The NZD/USD pair went back and forth during the course of the session on Friday, essentially forming a neutral candle. With that being the case, looks like the day was essentially a wash, but we recognize that a move below the 0.65 level is a very negative sign. Any rally at this point in time will be sold on signs of resistance as well, because the market is so bearish. We believe that the 0.70 level is essentially the “ceiling” in this market. With that being said, we are sellers again and again.