NZD/USD Forecast August 17, 2015, Technical Analysis

The NZD/USD pair went back and forth during the day on Friday, essentially doing nothing. The 0.65 level below is massively supportive, so we need to see a break down below there before we are comfortable selling at this point. Ultimately, any rally at this point in time should find plenty of sellers that push this market lower as well, so having said that we are “sell only” at this point in time because there is far too much bearishness above to think that the New Zealand dollar will gain significant value anytime soon.