By FXEmpire.com
The NZD/USD pair had a relatively decent day, when you consider how strong Friday was. Granted, the range wasn’t huge, but it was positive and this is especially impressive considering all of the buzz on Friday.
It isn’t lost on us the significance of being above the 0.80 level. This area was considered to be massive resistance, and now looks as if it’s trying to provide support. We see a clear shot to the 0.82 level if bullish momentum starts to pick up again, and as such we are more comfortable being long this pair at the moment than being short. In fact, a break of the Monday action could very well be considered a buy signal that should be aiming for the 0.82 level. As for selling, that is going to be very difficult after the candle that we produced on Friday.
Click here to read NZD/USD Technical Analysis.
Originally posted here
