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The NZD/USD pair fell originally during the previous week, but bounced in order to break all the way up to the 0.8120 area. With this in mind, it does look like this pair is trying to break out to the upside again, and with the Federal Reserve seemingly almost guaranteed to expand monetary easing policy, this pair should continue much higher.
The commodity currencies in general suddenly look very healthy after Friday session, and as such we think that buying the Dollar in general is probably not the wisest choice. Higher beta commodity currencies such as the New Zealand dollar, Canadian dollar, and Australian dollar will all do well for the short term. With this in mind, we would buy on a break of the highs from this previous week.