The NZD/USD pair fell during the session on Monday, but did get a bit of a bounce in order to form a hammer. It now appears that we are going to
The NZD/USD pair fell during the session on Monday, but did get a bit of a bounce in order to form a hammer. It now appears that we are going to consolidate just above the 0.84 handle, and then continue our march higher. This pair has been overly bullish lately, and as such is probably due to take a breather. We feel this is what’s happening right now, and as such have no real opinion on this pair at the moment. However, if we managed to break above the 0.85 level this would be very bullish. We would also be interested in buying this pair if we get a pullback to the 0.83 handle or so that shows signs of support.
NZD/USD Forecast December 18, 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.
