NZD/USD Forecast September 21, 2012, Technical Analysis

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The NZD/USD pair fell during most of the session during the Thursday trading day, only to turn around and bounce quite a bit higher and formed a massive hammer. The bottom of this hammer is sitting at the 0.82 level, and it does suggest that perhaps we have finally retested this area after breaking out of it. Is because of this we are very bullish of the Kiwi dollar right now, and would be willing to go long on a break above the recent highs from last Friday. As for selling, we have no intentions of doing so at this point time.

 

NZD/USD Forecast September 21, 2012, Technical Analysis

NZD/USD Forecast September 21, 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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