By FXEmpire.com
The NZD/USD pair fell initially during the week, only to bounce hard towards the second half of it as the central bank fueled liquidity rush could be coming. The 0.80 level has given way again and we close the week pressing up against the 0.81 handle as well. We are running into a significant amount resistance at this point, but we think that the next 100 to the next 200 pips should be relatively easy.
This rally is based upon the idea central bank easing, so of course is the ECB and the Federal Reserve disappoint, this rally will turn around in a heartbeat. Nonetheless, the central banks have a history of bending to the markets will, and we think this time won’t be any different.
Click here to read NZD/USD Technical Analysis.
Originally posted here
