By FX Empire.com
NZD/USD rose during the session on Monday as the “risk on” trade came back into focus. The Kiwi is highly correlated with riskier assets, so this wasn’t a big surprise. The breaking of the 0.75 handle was a big step forward, but the rest of the riskier currency pairs look a bit on the weak side. With this in mind, we are going to pass on a NZD/USD long position at this point. The selling off of the pair in the later part of the session could be a sign that the opening gap may get filled in the short term.
NZD/USD Forecast Nov. 29th, 2011, Technical Analysis
Originally posted here
