NZD/USD Forecast March 4, 2016, Technical Analysis

The NZD/USD pair broke higher during the course of the session on Thursday, testing the 0.6750 level, which is of course the top of the consolidation area that we have been in for quite some time. That being the case, the market looks as if it is trying to break out to the upside, perhaps reaching towards the 0.69 level. Ultimately though, if we get some type of exhaustive candle in this area, we could very well fall back to the 0.6550 level which was the bottom of the trading range that we’ve been in for some time.