NZD/USD Forecast Nov. 3rd, 2011, Technical Analysis
Technical Reports
The NZD/USD pair fell again on Wednesday as traders sold off the Kiwi in general. This was interesting as the global markets actually rose – which is normally good for the Kiwi. With most of the commodity markets raising as well, this is particularly ominous for the New Zealand dollar. The breaking of the consolidation bottom wasn’t accomplished, but the market is sitting right there. Because of this, we aren’t keen to buy at this point, but would be very interested in selling if we break the bottom of the Wednesday range.
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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