The NZD/USD pair surged higher for the previous week as the “risk on” trade came back into play. The word got out that several central banks are looking to get involved if the markets have a disorderly reaction to the Greek elections over the weekend, and this calmed a lot of fears out there as a result. Riskier currencies popped at the end of the week, and this pair was no different. The breaking of the 0.78 level is a significant outcome, and the 0.80 level looks to be targeted next. On a break above the highs from this past week, we would buy for a move to the 0.80 level or above. As for selling, we would only after the lows of this last week were closed below on a daily chart.

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Originally posted here