NZD/USD Forecast August 10, 2016, Technical Analysis

The NZD/USD pair fell initially during the course of the session on Tuesday, but found enough support to turn things back around for a bit of a hammer. We have an interest rate announcement coming out later today, but quite frankly unless the RBNZ is willing to step in and use a bazooka as far as interest-rate cuts are concerned, this market will more than likely continue to find buyers. It looks as if we are reaching towards the 0.73 level going forward as we have been consolidating but recently have found a “higher low.”

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