The NZD/USD pair fell hard on Friday as the “risk off” trade came back into play for the markets in general. The pair is very risk sensitive as it follows
The NZD/USD pair fell hard on Friday as the “risk off” trade came back into play for the markets in general. The pair is very risk sensitive as it follows commodities in general. The pair is approaching the bottom of the recent “box”, and it looks as if we could see support jump into the market. The pair is in a massive uptrend, and we prefer to buy the Kiwi in general. With this being said, we have a “floor” in this pair at 0.80 currently. As long as we are above that, we are willing to buy this pair on supportive candles, both daily and 4 hour.
NZD/USD Forecast March 5, 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.
