The NZD/USD pair had a strong day as the “risk on” trade was back in vogue for the previous 24 hours. This pair is absolutely subservient to the whims of this sentiment, and as such – it has been a tough pair to trade lately. The overall picture still looks a bit bearish to us, as the bottom of the recent consolidation is still being tested at the close of the session. This look like it could be a classic “break and retest” of the area, and if we cannot rise above the 0.8000 mark, this could be a great selling opportunity. The Non-Farm Payroll numbers will certainly move this pair, and as such it will be difficult to trade on Friday. The closing price is everything to us, and if we close lower on the day, we are strongly bearish. If we close higher – we need to see 0.8000 closed above to think about buying.
