NZD/USD had a very quiet session on Tuesday as the market continues to tread water in the 0.83 – 0.8350 area. The pair seems to be resting after an extremely bullish move, and although we could make a case for the pair weakening as the move has been so strong, selling isn’t our idea. There has simply been far too much bullish momentum in this pair over the last few months, and we would like to run with that sentiment. Pullbacks could find support at 0.82 and most certainly at the 0.80 level. Because of the overall strength of the Kiwi dollar, we are awaiting a nice pullback in order to buy this pair.
NZD/USD Forecast February 15, 2012, Technical Analysis
Originally posted here
