By FXEmpire.com
The NZD/USD pair rose slightly during the Tuesday session as the bullish sentiment continues. Granted, it wasn’t a massive green candle, but when you look at it in the context of being the fourth one in a row, it is fairly impressive. Obviously, the Friday candle from last week was very strong and distinctive we haven’t even bothered to pullback suggest that this pair is ready to move much higher.
The Kiwi dollar does suffer from being a risk sensitive currency though. You should keep this in mind when trading this pair. We believe that the door has been opened in order to run to the 0.82 handle, and that is exactly what we are aiming for. As for selling this pair, it would be very difficult to do until we close on a daily chart below the 0.78 level.
We aren’t expecting a massive move higher, but we do think that this pair will appreciate over time. In fact, we are willing to hold our positions until the 0.82 level gets had, and would even add if we manage to slice through it.
Click here to read NZD/USD Technical Analysis.
Originally posted here
