NZD/USD rose during the Tuesday session as traders continue to buy the commodity currencies in general. The 0.80 level has been massive resistance lately, and the area did in fact fight back against the bulls. The daily candle is closing right around the mark, and this suggests that it is about to give way. However, we still need to see that daily close well above the level in order to get long. The pair looks promising, but isn’t quite there yet.
NZD/USD Forecast January 18, 2012, Technical Analysis
Originally posted here
