NZD/USD Forecast October 23, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
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The NZD/USD pair did very little during the session on Monday, as it continues to grind just above the 0.81508 level. Because of this, we simply don't see much of a trade in this market, and are avoiding it. However, we do accept the fact that it currently looks like it's trying to form a bit of a base in order to continue going higher. In order for us to get involved in this marketplace, we would need to see the 0.8225 level broken on the upside in order to start buying. Until that happens, we will be very flat of the New Zealand dollar.


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