NZD/USD forecast for the week of July 28, 2014, Technical Analysis

The NZD/USD pair fell hard during the course of the week, closing towards the very low of the range. This of course tells us that the market should continue to fall, but we see a significant amount of support in the neighborhood of the 0.85 level. Because of this, we could see that the market will bring in buyers in that region, so we are not willing to sell quite yet. In fact, we are waiting for some type of supportive candle in order to go long. If we get down below the 0.84 level, we would be sellers at that point out.