NZD/USD Forecast February 24, 2016, Technical Analysis

The NZD/USD pair fell during the course of the day on Tuesday, taking back all of the gains from the Monday session. This is a market that has been consolidating for some time, so having said that it looks like we are simply going to continue to do that. The 0.6750 level above will be resistance, and the 0.6550 level below will be support. Ultimately, if you’re short-term trader you can go back and forth but at this point in time we choose to be on the sidelines of the New Zealand dollar.