NZD/USD Forecast February 12, 2016, Technical Analysis

The NZD/USD pair initially fell during the course the day on Thursday, but found enough support at the 0.66 region to turn things around and form a hammer. Having said that, and even though we believe that this market is going to go higher, we are bit hesitant to start buying as there is a significant amount of resistance somewhere near the 0.67 level. We think that the market will probably continue to show resistance all the way to the 0.69 level, so having said that this is a market that were in stand on the sidelines from.