NZD/USD Forecast February 23, 2016, Technical Analysis

The NZD/USD pair rose during the course of the session on Monday, as we continue to see strength. However, there is quite a bit of resistance near the 0.6750 level, so it’s not until we break above there that we are comfortable buying. In the meantime, we would be very leery and recognize that we could get an exhaustive candle. That exhaustive candle would be a nice selling opportunity as far as we can see. That would simply be a return to the previous consolidation. On a break out above the 0.6750 level, the market should then reach towards the 0.69 handle.