NZD/USD Forecast August 31, 2012, Technical Analysis

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The NZD/USD pair fell below the 0.80 level on Thursday for the first time in the last couple months. In fact, we did get a bit of a bounce at the end of the session but not enough to be convinced. As we are closing below the 0.80 level, it appears that we are going to be going much lower. A break of the lows from the Thursday session has us selling and aiming for the 0.78 level, she is the next obvious supportive area for the New Zealand dollar. As for buying this pair, we wouldn’t do it unless we manage to break above the highs from the Thursday session.

 

NZD/USD Forecast August 31, 2012, Technical Analysis

NZD/USD Forecast August 31, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

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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