NZD/USD rose slightly during the Thursday session, but confirmed the bearish stance that it has taken recently. The daily candle is a shooting star at the bottom of the down move, and as a result looks like we are heading much lower. We stated yesterday that the 0.70 is probably going to be seen in this pair, and the Thursday action certainly suggests this as well. We like selling rallies in this pair as long as we are under 0.75, and will continue to do so going forward. A break below the lows of Thursday has us getting a bit more aggressive in our selling.
NZD/USD Forecast Nov. 25th, 2011, Technical Analysis
Originally posted here
