NZD/USD Forecast August 9, 2016, Technical Analysis

The NZD/USD pair went back and forth during the course of the day, initially falling during the open. However, turning right back around to form the hammer suggests that we are going to go higher. Ultimately, this is a market that should reach towards the 0.72 level. Ultimately, this is a market that will continue to be volatile, but it looks like we have a bit of an upside push starting to happen, and that being the case, the market looks as if it is going to grind higher, but the key word of course is grind. I believe it will be short-term traders only at this point.

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