By FX Empire.com
NZD/USD initially rose during the session on Friday as the market was in a fairly decent mood overall. However, by the time the session closed, we had pulled back and formed a shooting star. The shooting star is at a resistance level in the form of 0.84, but the trend is so strong that selling this pair is difficult to say the least. The 0.85 level should be thought of as the ultimate top of resistance, but it should also be known that the 0.8250 level is supportive. Because of this, we will wait for a dip down to that level in which to look for support to buy.
NZD/USD Forecast February 27, 2012, Technical Analysis
Originally posted here
