By FXEmpire.com
NZD/USD ended up negative for the session on Thursday, but just barely so. The pair had a fairly volatile session as it was first positive, but then fell drastically the end of negative. In the end, it wasn’t much of a change. It is becoming increasingly obvious that the 0.78 to 0.79 level is a massive support area, and as such we think that in order to sell this pair we need to see a daily close sub-0.78 to be safe with it. We do think in the long term that this pair could fall, but obviously there is some type of barrier there. As for buying, a break above the 0.80 level on the daily chart for the close would be a significant enough signal for us to buy.
Click here to read NZD/USD Technical Analysis.
Originally posted here
