FXStreet (Guatemala) - NZD/USD has started to consolidate the downside after a mixed US session on mixed greenback, and stocks. Commodities, on the other hand, were more decisive and lower and were not enabling the bulls take charge in the bird. It is hard to see a clearing out of the woods yet while the Chinese crisis is not something that will go away overnight. On the other hand, most of the shock has been absorbed and there is room for consolidation and a drift higher in the near term until another shock can trigger further sharp declines. Overall, the issue for the bird is one of interest rates, after all else that is. The RBNZ's inflation target of 2% will likely remain under pressure and could have the Central Bank to act and cut interest rates again in 2016 and below the record lows since the OCR was introduced. Analysts at Westpac do not feel the RBNZ will act until later in the year until June and then again in September to net 2.0% OCR. NZD/USD levels NZD/USD levels Technically, the sma 50 at 0.6575 is first resistance before 0.6590 and the 20 sma on the 4hr chart. The recovery from Nov business and 0.6428 low is under attack in full effect, already with over 2/3rds of the move compromised in heavy selling from above 0.6870 to current lows of 0.6510. 0.6577 is a potential resistance at the 100 SMA on the daily chart. For more information, read our latest forex news.