By FXEmpire.com
The NZD/USD rose during the Friday session as the markets were slightly higher as far as risk assets are concerned. The recent action has been consolidative, and the action on Friday did little to change that look as the pair pulled back from the highs in order to form a shooting star. The fact that the candle on Thursday was a hammer and the Friday candle was a shooting star can only mean we are looking at a sideways grind. The 200 daily EMA is just below, and as a result we favor the upside, but until we get a solid green candle and a break higher, we aren’t trading this pair. A pullback to the 0.8050 level with signs of support could also get us long.
NZD/USD Forecast April 2, 2012, Technical Analysis
Originally posted here
