The NZD/USD originally fell on Friday, but bounced in order to form a big massive hammer. This hammer actually closed above the shooting star, so this
The NZD/USD originally fell on Friday, but bounced in order to form a big massive hammer. This hammer actually closed above the shooting star, so this would have surprise the lot of the pairs as was triggered, and then completely reversed. However, looking at this chart we recognize the fact that the 0.85 level is the real resistance barrier, and as such that’s would need to be overcome in order to continue higher. As far as selling is concerned, we are not interested in we do believe that the 0.83 level will offer support going forward, and would be in interesting place to start buying on a pullback.
NZD/USD Forecast December 17, 2012, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
