NZD/USD Forecast March 2, 2016, Technical Analysis

The NZD/USD pair initially fell during the course of the session on Tuesday but then rose enough to fill the gap from the Monday session. That being the case, we should now start to see bearish pressure, so some type of bearish candle would be reason enough to start selling yet again. At this point, we don’t really have any interest in buying this pair although we do recognize that overall we are in a larger consolidation area. Ultimately, this market should drop given enough time, but we recognize that there is a lot of volatility of there at the moment.