NZD/USD Forecast June 15, 2012, Technical Analysis

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The NZD/USD pair rose during the session on Thursday as the Japanese, British, and Canadian central banks all came out and stated that they were going to provide liquidity to the markets if the Greek elections ended up being a destructive influence on the stability of global markets. This seemed to get a lot of traders excited as a result, and we saw a pop in risk assets in general. However, the pair is starting to run into a fair amount of resistance at the 0.7850 area, and as a result we could see a muted response on Friday to the “bullish news”. In fact, the later we are in the day, the more likely a short-term selling opportunity will arise.

 

NZD/USD Forecast June 15, 2012, Technical Analysis

NZD/USD Forecast June 15, 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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