NZD/USD Technical Analysis August 2, 2011

The NZD/USD pair fell on Monday as the world is trying to figure out how to trade around the debt limit situation in America. It should be noted that the stock markets sold off in the US after originally suggesting a gain in the futures markets. Because of this, “risk on” trades like the NZD/USD suffer. We believe it is only a minor setback in the pair, and would be interested in buying, but at lower levels. We are waiting for a cheaper price in which to buy the Kiwi.

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