By FXEmpire.com
The NZD/USD pair fell somewhat during the session on Wednesday as the commodity trade was hit a bit. The pair did manage a bounce though, so the close wasn’t nearly as bearish as it could have been. The 38.2% Fibonacci level below still looks supportive, and as a result this is the first place we would look for buying opportunities. On a supportive candle, we would buy. The 0.80 level below is an even stronger area than the first one, and we are very interested in buying down there. Selling isn’t possible until we get a daily close below the 0.80 level.
NZD/USD Forecast March 22, 2012, Technical Analysis
Originally posted here
