NZD/USD fell during the Tuesday session as the Kiwi was shunned overall. However, the volume was light and the fall was more than likely somewhat exaggerated by it. The pair does look a little bit toppy at the 77.50 level, so a fall from here wouldn’t be out of the question. The 0.75 level below should continue to be supportive going forward, so any selling is for small gains only. Buying isn’t an option for us until we break above the cluster at 0.78 or so.
NZD/USD Forecast December 28, 2011, Technical Analysis
Originally posted here
