NZD/USD Forecast July 30, 2012, Technical Analysis

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The NZD/USD pair continued the massive move higher on Friday as the markets continue to expect central bank easing in Europe this week. The Federal Reserve could of course add to the easing as well, and the European Central Bank will almost certainly do so. This should push higher the prices of commodities, and the Kiwi as a result as well.|

The pair broke out of the recent consolidation area on Friday, and as such we feel this pair should continue higher. The 0.80 level should now serve as support also, so now we have a reference as to where the bulls would have failed.

NZD/USD Forecast July 30, 2012, Technical Analysis

NZD/USD Forecast July 30, 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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