NZD/USD Forecast January 27, 2016, Technical Analysis

The NZD/USD pair rose during the day on Tuesday as we continue to consolidate overall. This is a market that has been consolidating just above the 0.64 level for some time now, and of course is highly sensitive to commodity markets which of course are a mess. At this point in time, we sit on the sidelines when it comes to the New Zealand dollar, but we also know that there is in the interest-rate decision coming out of Wellington today, and that of course could move the market. Ultimately, we will have to see how the daily candle forms in order to place our next trade.