By FXEmpire.com
The NZD/USD pair fell hard on Friday as the “risk off” sentiment picked up in the markets. The fall retested the top of a triangle that the pair recent broke out of, and now it is merely a question of whether or not the triangle holds as support going forward. If it does – we would be long. If it doesn’t, we think that the 0.80 level and the 38.2% Fibonacci level can offer support. Let us not forget that the 200 day EMA is just below as well. There are many reasons to favor the upside in this pair going forward.
NZD/USD Forecast April 16, 2012, Technical Analysis
Originally posted here
