By FX Empire.com
NZD/USD rose again on Friday as the Dollar continues to get sold off against the commodity currencies. The bad GDP numbers out of the United States certainly helped the already bearish Dollar sentiment, and as a result, traders went to other countries to look for yield. The Kiwi has been absolutely on fire lately, and has even managed to hit the highs from October again. The pair did pullback a little bit though, suggesting that we might see a short-term correction. If we get that – we are willing to buy supportive candles below. A breaking of the daily high from Friday would also have us long. We are not selling this market now.
NZD/USD Forecast January 30, 2012, Technical Analysis
Originally posted here
