By FXEmpire.com
The NZD/USD pair fell during the session on Tuesday, to close near the 0.8050 level. However, this area is the beginning of serious support in this pair, and we do not expect much of a decline from this point. We are simply going to wait until we see a supportive candle in that general vicinity in which to start buying again. We think that the 0.80 level will more than likely be the area that buyers start to step back in.
In order to start selling the New Zealand dollar, we would need to see a daily close below the 0.78 level, something that won’t happen for quite some time. As things stand right now, we are still bullish of the pair even though we had a pullback to the last couple sessions.
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Originally posted here
