By FXEmpire.com
The NZD/USD pair fell most of the previous week, but much like the past several weeks we saw a bounce at the end of the period. The resulting candle is yet another hammer, and this pair looks to be heavily supported at this point in time, leading us to buy only. The pullbacks should be considered as buying opportunities, and as long as we are above the 0.80 handle – that is just what we will do. 0.85 is probably the first significant target to the upside. Support can be seen all the way down to the 50% Fibonacci level, which is actually a bit below the above mentioned 0.80 handle.
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Originally posted here
