By FXEmpire.com
The NZD/USD pair shot straight up during the Friday session after the stronger than expected US jobs number. The Kiwi dollar of course reacted positively to the “risk on trade” that we found permeating around the global financial markets. However, we are approaching a serious resistance level in this pair in the form of the 0.82 handle. Is because of this that we are not buying this market. Rather, we would prefer to buy pullbacks especially if they can come back to the 0.80 level, but would settle for a move back down to 0.81 with the right supportive candle.
With all this being said, it is almost impossible to sell this pair, and although that we are very positive and constructive of the Kiwi dollar now, we feel that it’s it will be one of the more difficult pairs to buy as it is getting so close to the massive resistance.
Click here a current NZD/USD Chart.
Originally posted here
