By FXEmpire.com
The NZD/USD pair fell on Wednesday as the Kiwi continues to consolidate just above the 0.81 level. In fact, it is the 0.81 level that kept prices higher, and as a result it looks as if we are at the bottom of the recent consolidation rectangle. Because of this, we favor buying over selling as the Friday Non-Farm Payroll report could be a factor in keeping the markets fairly range bound and tight for the next couple of sessions.
With this in mind, we are willing to buy, but don’t expect a big move. As long as we are above 0.80, this pair remains as a “buy only” one for us.
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Originally posted here
