The NZD/USD pair recently shot straight up, and after falling for much of the previous week managed a bounce in the end. The pair looks well supported at
The NZD/USD pair recently shot straight up, and after falling for much of the previous week managed a bounce in the end. The pair looks well supported at the 0.75 level, and the recent action has been promising. However, the highs are getting lower, and we feel this should continue as the worlds markets are becoming more and more risk adverse over time. The pair is going to be very sensitive to bad news, and it looks like we will probably get more before it is all said and done. We like selling rallies in this pair, especially near the 0.80 level.
NZD/USD Forecast for the Week of Dec. 12th, 2011, 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.
