NZD/USD continued to fall on Wednesday as traders sold off commodities in general. The Kiwi will always move with the commodity markets over time, and
NZD/USD continued to fall on Wednesday as traders sold off commodities in general. The Kiwi will always move with the commodity markets over time, and this pushed the pair much lower. The gap from two weekends ago is now being approached, and filling it almost seems a foregone conclusion. The real test will be whether or not the NZD/USD can break below the 0.73 or not. The breaking below that would be extremely bearish. With this recent move, we are willing to sell rallies in this pair, and have no interest in buying at this point.
NZD/USD Forecast December 15, 2011, 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.
