NZD/USD forecast for the week of October 20, 2014, Technical Analysis

The NZD/USD pair went back and forth during the course of the week, testing the 0.80 level. That level offered resistance as we had anticipated, but we ended up forming a slightly positive candle for the week. If we can get above the 0.80 level, the market could go much higher. On the other hand, we appear to see in of significant resistance there that the market very well could fall from here, which is what we actually believe will happen longer term anyway. The central bank in New Zealand is trying to work the value of the Kiwi dollar down, and we do believe that ultimately this market will accomplish what the central bankers wish.