NZD/USD Forecast August 3, 2016, Technical Analysis

The New Zealand dollar did have a positive session during the day on Tuesday, as we continue to grind towards the 0.73 level. The market will find quite a bit of resistance in that area, so I’m waiting to see whether or not we get an exhaustive candle that we can sell. On the other hand, we could break above there and close the daily candle above that level. If we do, I would be a buyer at that point in time as it would be extraordinarily bullish and should send this market looking for the 0.75 handle.