NZD/USD rose on light volume during the Thursday session as riskier assets and commodities got a bid. The low volume markets make taking this move very
NZD/USD rose on light volume during the Thursday session as riskier assets and commodities got a bid. The low volume markets make taking this move very serious difficult, and the Friday conditions in an already thin market is going to make trading the Kiwi very dangerous as sudden moves can be had only to reverse as traders square their positions for the year. The 0.78 level above looks very resistive, so buying isn’t an opportunity at this point, and selling will more than likely be contained by 76.50 on Friday. With this in mind, we are flat in this market until January.
NZD/USD Forecast December 30, 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.
