The NZD/USD pair rose initially during the Wednesday session, but turned around in the middle of the day to finish much lower. The candle that formed looks very bearish, but the trend is up. Now the real question is whether or not we are starting to turn the trend around, or are we heading for a pullback at this point? In our opinion, it is the latter of the two. Because of this, we are looking to see the Kiwi pullback and find support. The 0.82, 0.81, and most certainly the 0.80 levels are all good candidates for support zones, and we will look for candles to buy at those levels.
NZD/USD Forecast March 1, 2012, Technical Analysis
Originally posted here
