NZD/USD forecast for the week of August 17, 2015, Technical Analysis

The NZD/USD pair fell during the course of the week, slamming into the 0.65 level. This is a massive support level, so having said that a bounce is in the big of a surprise but quite frankly it hasn’t exactly followed through. Because of this, we are simply waiting for short-term rallies in order to start selling. Longer-term trades will be difficult to take unless of course we break down to a fresh, new low. If that happens, the market should then head down to the 0.6250 level.