NZD/USD Forecast October 9, 2014, Technical Analysis

The NZD/USD pair broke higher during the course of the day on Wednesday, breaking the top of a shooting star from the previous two sessions. Because of that, it appears of the market is probably going to make a run towards the 0.80 handle, but ultimately we feel that somewhere in that area we should see a resistant candle that should send the market back down. We are more than willing to sell his resistive candles as it certainly jibes well with the overall downtrend. We have absolutely no interest in buying the New Zealand dollar.