NZD/USD forecast for the week of September 10, 2012, Technical Analysis

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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.

NZD/USD forecast for the week of September 10, 2012, Technical Analysis

NZD/USD forecast for the week of September 10, 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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