By FX Empire.com
The NZD/USD got clobbered during the Monday session as the commodity markets all took a hit. The Kiwi is very sensitive to most commodities, and as a result it was always going to fall in value. The 0.8000 level still remains underneath, and would certainly be an area where the markets could offer massive support. The 0.79 area would have to be cleared to the downside in order for us to sell. If we can see a supportive candle, something like a hammer or large green one, near the 0.8000 level – we would buy.
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