NZD/USD Forecast February 8, 2016, Technical Analysis

The NZD/USD pair initially tried to rally during the course of the day on Friday but turned back around to form a fairly negative candle. This negative candle appeared immediately after a shooting star, so it looks as if the sellers are starting to take over again. Break down below the bottom of the range should send this market looking for the 0.65 level next. Ultimately though, we feel as if we are simply consolidating between the 0.64 level on the bottom and the 0.69 level on the top. One thing you can count on is going to be volatility.

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