NZD/USD Forecast August 25, 2017, Technical Analysis

The New Zealand dollar fell initially on Thursday, but found a bit of support at the 0.72 handle underneath. However, the market certainly looks bearish and the New Zealand dollar is most certainly on its back foot. I believe that if we break down below the lows of the day, the market will continue to go lower from there, perhaps extending down to the 0.70 level over the longer term. With this being the case, I believe that selling the rallies will probably continue to be the way going forward until we can break above the 0.7250 level. At that point, I think that the market would bounce significantly. However, I don’t think that’s going to happen in the short term.

NZD/USD Video 25.8.17