NZD/USD Forecast Dec. 1st, 2011, Technical Analysis

NZD/USD absolutely skyrocketed on the news of the major central banks of the world working to lower swap costs for Dollars. This should help alleviate any real chance of another Lehman Brothers style meltdown, and the markets have gone wild because of it. The commodity trade is back on, and the Kiwi reacted positively as a result. The pair sailed to the 0.78 level, where is meets resistance. The move has been parabolic, so we are currently looking for shorter-term candles to short this overdone rally. The 0.8000 level should continue to be very resistive, and will need to be overcome if the bullish action is to continue.

NZD/USD Forecast Dec. 1st, 2011, Technical Analysis NZD/USD Forecast Dec. 1st, 2011, Technical Analysis

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