NZD/USD fell for the week, but managed a bounce from the 0.75 level as buyers stepped in to support the market. The Kiwi dollar will be affected by the
NZD/USD fell for the week, but managed a bounce from the 0.75 level as buyers stepped in to support the market. The Kiwi dollar will be affected by the commodity markets, so trading this pair will have to be done in conjunction with whatever the commodity markets are doing. With this in mind, we are going to watch them as a whole before trading this pair. Technically, the area looks like massive support, but the highs are getting decidedly lower in this pair, suggesting a breakdown through the 0.75 level may be coming. However, the market looks like a “sell the rallies” one, so this is what we will be doing.
NZD/USD Forecast for the Week of December 19, 2011
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.
