NZD/USD Forecast August 2, 2016, Technical Analysis

The NZD/USD pair did almost nothing during the course of the session on Monday, as the market simply continues to hover near the 0.72 level. Because of this, the market looks as if it is simply waiting to find out which direction to go from here. The Australians have an interest rate announcement today, so that should have a bit of a “knock on effect” in this market, so pay attention to what goes on in the AUD/USD pair as well. Ultimately, this is a market that has been bullish, but still continues to consolidate between the 0.70 level on the bottom, and the 0.73 level on the top.