NZD/USD fell hard on Monday as the “risk off” trade came back into vogue. The market sold off most commodities, and the Kiwi is always sensitive to this. The gap from two weekends ago still hasn’t been filled, and we think that we could see that happen in the near future. The 075 level continues to be supportive as it is the top of the gap, and we think that area will slow down the fall in the market, but it appears that rallies are to be sold going forward, and new lows could be sold as well.
NZD/USD Forecast December 13, 2011, Technical Analysis
Originally posted here
