By FXEmpire.com
NZD/USD fell hard on Wednesday as the risk appetite continues to fall around the world. The pair is absolutely broken at this point, and buying certainly cannot be done. The 0.80 level is far behind us and the pair is a “sell only” one at this point. The 0.77 level gave way during the session, and the pair is closing at the bottom of the daily range. This is a very bearish market at the moment, and buying is a fool’s game at this point. We believe the 0.75 print is in the short term future of this market.
NZD/USD Forecast May 17, 2012, Technical Analysis
Click here to read NZD/USD Technical Analysis.
Originally posted here
