By FX Empire.com
NZD/USD fell during the session on Tuesday as the “risk off” trade came back. The pair has been grinding lower as of late, and looks like it should continue. A bounce wouldn’t be much of a surprise, but should be thought of as a chance to sell now that the market looks so weak. Because of the risk-sensitive nature of the Kiwi, we don’t want to own it presently. We are waiting for a bounce from which to sell, and see 0.8000 as massively resistive.
NZD/USD Forecast Nov. 16th, 2011, Technical Analysis
Originally posted here
