NZD/USD rose during the light volume Thursday session, going against the failure to rally on Wednesday. While this would normally be something to pay attention to, the fact is that the market is simply too illiquid at the moment to read too much into this move. The “risk off” trade will more than likely come back often in the next few months, and as a result we are willing to be patient and wait for better selling opportunities going forward. We still see the 0.78 level as a good spot to look for weakness to sell.
NZD/USD Forecast December 23, 2011, Technical Analysis
Originally posted here
