<br />
NZD/USD has broken through a major support area at the 0.7350 level. As this break shows, the pair now will find itself on the back foot unless it can rise back above it. The suggested move below would be down to the 0.70 area, and could be fairly quick. If we can rise above the 0.7350 level, it would show you its strength, and as such could rally to 0.7800 – however it should be said that it will struggle on its way up.
More March 16, 2011 Analysis:
