NZD/USD Forecast November 15, 2012, Technical Analysis

The NZD/USD pair fell rather hard during the session on Wednesday after forming a shooting star on Tuesday. Because of this, it should not have been a huge surprise that we saw bearish action, but the extent of it was a bit unnerving for risk seekers during the day. 0.81 handle as support though, and as such the buyers would have to take some solace in that.

However, we believe that a move below the lows for the session on Wednesday Woodson this pair looking for the 0.80 handle right away. Below there, we could see a real acceleration of selling. As long as there is a “risk off” attitude around the markets, the New Zealand dollar will be a currency you do not want to own.