NZD/USD Forecast February 25, 2016, Technical Analysis

The NZD/USD pair fell initially during the course of the day on Wednesday, but turned around at the 0.6550 handle. Once we do, the market ended up turning back around to form a hammer. That means that we will more than likely try to get towards the top of the consolidation area, which could lead this market to look for the 0.6750 handle. Regardless, this is a market that a short-term in nature, so we are not looking for any type of significant move in one direction or the other right now.