By FX Empire.com
NZD/USD rose during the Friday session to form a hammer-shaped candle for the week. The 0.8000 level is just above, and looks resistive however, so buying at this point isn’t wise until we clear that barrier. The markets have been headline driven, and the Italians have passed a law and plan for austerity again that further drives home the point of the markets rallying. The clearing of 0.8000 is paramount though, and until we do that – we can’t buy yet. Selling isn’t viable either, at least until we break below the bottom of this week’s candle.
Originally posted here
