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NZD/USD Forecast August 6, 2015, Technical Analysis

Christopher Lewis
Christopher Lewis
nzdusd

The New Zealand dollar initially tried to rally during the course of the day on Wednesday, but found enough pressure above the 2 things back around and form a shooting star. The fact that the shooting star sits right at the 0.65 level tells us that the market is trying to break down from here. If we can break down below the bottom of the shooting star, we would be sellers. Of special note is the fact that the Nonfarm Payroll numbers come out tomorrow, so it is possible may have a very quiet session before we get a significant move. Rally should be selling opportunities as well.

 

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