The NZD/USD fell on Monday, as the pair broke down from the recent consolidation area that was marked at 0.8450 and the 0.8250 level. The pair looks a bit weak at this point, but in the bigger scheme of things, this pair is still very bullish overall. Because of this, we are willing to let the pair fall a bit and “comeback to us”. The 0.82 level could be supportive, and the 0.80 will most certainly be so. On a sign of support at either level, we are willing to buy this pair. A break above the 0.450 level has us holding onto the pair for the longer-term.
NZD/USD Forecast March 6, 2012, Technical Analysis
Originally posted here
