By FX Empire.com
The NZD/USD pair had a rough week by all measures. The 0.85 level above continues to hold off the bears, but the trend is decidedly up at this point, and that is the direction that we are most comfortable with. The 0.80 level below is without a doubt a “line in the sand” for the bulls in this pair. Until we break below that – we can only buy the Kiwi when we see support. Currently, we see the 0.82, 0.81, and 0.80 levels as possible support. With this being said, we are looking to see the market continue to the upside after a bit of a pullback. We won’t sell until we close below the 0.80 level.
NZD/USD Forecast for the Week of March 5, 2012, Technical Analysis
Originally posted here
