By FXEmpire.com
The NZD/USD pair fell hard on Thursday as the “risk off” trade came back into play. As a matter of fact, this pair is testing the 0.80 level at the close, and this is an area that we identified as the “floor” for us in this pair. Because of this, we are very interested in following this pair and its reaction to the jobs number out of America later today.
The pair is now below the 200 day exponential moving average now, and this has us looking at it as a potential short. The trade set up is simple: If we close below 0.80, we sell. If we close above it, we buy. Today should be big for is market.
Click here for updated NZD/USD News.
Originally posted here
