NZD/USD Forecast for the Week of Nov. 21st, 2011, Technical Analysis
NZD/USD fell very hard during the week as traders continue to shun the riskier assets around the world. With the Kiwi being so sensitive to risk appetite, this pair was always going to fall. As long as there is economic uncertainty, there will be pressure on this pair. As a result, we like selling rallies as the weekly candle is so ominous, but the 0.75 level will more than likely produce some kind of bounce. Once that area gives way though – this pair falls quickly. We cannot buy this pair at all.
Originally posted here
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