The NZD/USD pair fell hard as the markets were rocked by the Federal Reserve’s lack of easing or “shock and awe” on Wednesday. The pair has reached the 0.8000 level, and this is important as it is such significant support. If this area holds – we could see another large bounce. It happened last time we fell down to test it, but it should be mentioned that the bounce produced a lower high than the previous one. Because of this, we are expecting this pair to fall hard in the near future. In the mean time, we are selling rallies of any substantial amount, as well as selling a daily close below the 0.8000 level.
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