NZD/USD Forecast December 18, 2015, Technical Analysis

The NZD/USD pair tried to rally initially during the day on Thursday, but turned back around at the 0.6750 level again. This is an area that has been significant and important to the market, so having said that it looks as if the market is going to struggle to go above there, and if we can break below the bottom of the range for the session on Thursday, we feel that the market will continue to drop. The bottom of the range is essentially the 0.67 level, so below there we should then reach towards the 0.66 handle, and then eventually the 0.65 level. We have no interest in buying this market at the moment as commodities in general look very soft.