By FXEmpire.com
The NZD/USD pair fell hard for the session on Thursday, only to stop right at the bottom of the hammer to set up an interesting Friday session. The pair looks very vulnerable, and the risk appetite is rapidly disappearing around the world. This will more than likely be bad news for the Kiwi as it is so highly correlated with commodities.
The breaking of the bottom of the Thursday candle has us selling this pair as it runs to the 0.75 handle. As for buying, this would be like catching a falling knife, and that is something we have no interest in doing.
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Originally posted here
