NZD/USD: Will It Start Falling?

NZD/USD has been consolidating for a long time now, but the pair has also slowly been moving to the upside and recently it almost reached the resistance level at 0.7100, which coincides with (MA)89 on the weekly time frame. While the pair did not quite reach that level – it stopped at 0.7053 – it also formed a shooting star candlestick on the weekly time-frame which is a signal that NZD/USD might start moving to the downside sometime soon. Should that happen, the first level of support would be 0.6750 – 0.6700, and a possible break below that level could lead to a further drop to 0.6450. The fundamentals later today will likely give it the necessary push to start falling.