By FXEmpire.com
The NZD/USD pair had a rough session on Tuesday as the markets reeled from the continuing European drama. The austerity measures in Greece look like they may be in jeopardy, and the markets reacted by selling off almost every commodity. As the Kiwi dollar is highly correlated to several commodity markets, it fell. The world is running to the US dollar at the moment, and running from the higher yielding currencies. The pair managed to break below the 50% Fibonacci retrace level, and now looks to head much lower. The pair will be sold by us on short-term rallies now, and new lows.
Click here a current NZD/USD Chart.
Originally posted here
