By FX Empire.com
The NZD/USD rose during the Friday session as the pair slammed into the bottom of the recent consolidation range. The 0.8250 was support, and now will attempt to be resistive. However, the pair is in an uptrend, so we think that sooner or later the pair will rise above it. In the meantime though, we need to see a daily close above that level in order to get long. After that, we look to see if the 0.8450 level gives way, allowing the pair to rise much further. We don’t consider selling until we get a daily close below the 0.80 level.
NZD/USD Forecast March 19, 2012, Technical Analysis
Originally posted here
