By FXEmpire.com
The NZD/USD pair fell during the previous week as we bounced off of the 0.8050 level. The market is currently testing the previous suggestion area, and as such it does look like we could get a nice bounce from here. Certainly, with the markets pricing in quantitative easing from so many different central banks the commodity prices should rise in the near term. This of course is a good thing for the value of the Kiwi dollar, and as such we do prefer to buy it.
The hammer from three weeks ago was a very strong one, and we are simply retesting it at this point. We still think that the pathway to 0.84 is still in play, but it may not necessarily be the smoothest right higher. Because of this, if you are going to go along of this pair please be patient. On the plus side, it is a positive swap, so you do get paid to wait.
Click here to read NZD/USD Technical Analysis.
Originally posted here
