By FXEmpire.com
The NZD/USD pair fell on Monday as the risk appetite continued to fall. The European issues continue to give high potential to headline risks. The pair is one of the favorites for traders to use as an expression on risk appetite as the Kiwi dollar is so highly correlated to the commodity markets. The pair has been falling for some time now, and it seems as if the problems in Europe are starting to get more prominent. With this being said – we only want to sell. Of particular interest is the fact that we closed below the 61.8% Fibonacci level. We are selling a break below the Monday lows. Buying isn’t a thought until we close well over the 0.80 level for a few days.
Click here to read NZD/USD Technical Analysis.
Originally posted here
