NZD/USD had a fairly neutral day on Wednesday as the market went back and forth in this pair. The resulting daily candle is a doji, and the day finished down just slightly. The NZD is highly sensitive to the risk appetite of the global markets, and as a result is currently treading water while the world waits to see if the EU summit on Friday can produce any announcements of success. The EU coming up with a viable and believable plan should be supportive of this pair, but the market has been disappointed time and time again as the leaders simply cannot come up with the tough decisions. The pair will probably be very quiet until after this meeting, and we are not trading it until the start of next week as a result.
NZD/USD Forecast Dec. 8th, 2011, Technical Analysis
Originally posted here
