NZD/USD had a bullish day on Friday as the markets bought the “risk on” move for most of the day. The resulting candle was a decent green one, but the end of the day did give back some of its gains. The risk off trade is always ready to come back into the market, so we are more inclined to sell this pair over time, but waiting for rallies that show weakness going forward. We are not interested in buying at this point in time as the headlines are always liable to be bearish for risk in general these days, and the highs are getting lower.
NZD/USD Forecast December 19, 2011, Technical Analysis
Originally posted here
