By FX Empire.com
The NZD/USD pair fell during the session on Friday in order to confirm the previous support at the 0.8250 level as now being resistive. However, over the long run we feel this area in minor, and should give way. We still think this pair is bullish as long as we are above the 0.80 (down to 0.7950) level and we won’t sell until that area gets broken to the downside on a daily close. The pullback should continue to offer buying opportunities in this pair, and as such we are looking for pullbacks that produce supportive candles in which to buy this pair. Particular we like the 50% retrace area just tucked under the 0.80 mark.
NZD/USD Forecast March 12, 2012, Technical Analysis
Originally posted here
