NZD/USD Forecast Dec. 12th, 2011, Technical Analysis

NZD/USD fell at first during the Friday session, but saw massive rebounding as the market fell into relief rally mode after the EU summit. However, there is the previous resistance area just above, and we feel that the market is simply returning to that range. The most recent pattern has been for lower highs, and this tells us that the path of least resistance is down. Because of this, we are willing to avoid buying this pair as we see the upside being so limited.

NZD/USD Forecast Dec. 12th, 2011, Technical Analysis
NZD/USD Forecast Dec. 12th, 2011, Technical Analysis

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