NZD/USD Forecast August 10, 2012, Technical Analysis
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The NZD/USD pair had a volatile session on Thursday, but ended up ending the session relatively flat. It appears that the 0.81 level is offering quite a bit of support, and as such we think that the next move will more than likely be higher. Nonetheless, we see the 0.80 level as significant support as well, and will not sell this pair because of that.
The markets are expecting the Federal Reserve to begin of further quantitative easing in September, and if they do this should bode well for commodity currencies such as the Kiwi dollar. With this in mind, we want to buy this market, not sell it and will continue to do so on a break of the Thursday highs.
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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