The NZD/USD pair rose during the session on Monday as we cracked above the 0.83 handle. However, the candles are getting smaller, so you can make an
The NZD/USD pair rose during the session on Monday as we cracked above the 0.83 handle. However, the candles are getting smaller, so you can make an argument that perhaps the market is running out of momentum. This would be a surprise, and quite frankly would make us any less bullish of the New Zealand dollar.
On a break above the highs from the Monday session, we are more than willing to start buying the Kiwi dollar as we think it has much higher to go. Also, we would be interested in buying this pair on a pullback that shows support around the 0.83 handle. Nonetheless, we have no interest in selling the New Zealand dollar presently.
NZD/USD Forecast December 11, 2012, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
