NZD/USD rose after first falling during the Monday session. The Kiwi dollar has been one of the darlings of the currency markets over the last three months, and the trend looks set to continue. The recent action suggests that we are simply taking a breather after the large move, and this will be healthy as the rise was so relentless. This should be a “buy on the dips” pair for you, as it is for us. The breaking above the 0.8450 level sends this pair much lower. Even if we break the bottom of the range at 0.8250, we see far too many places down to the 0.80 level that could be supportive in this pair to short it.
NZD/USD Forecast February 28, 2012, Technical Analysis
Originally posted here
