NZD/USD Forecast for the Week of June 11, 2012, Technical Analysis

The NZD/USD pair had a bullish week over the last five sessions, and as a result looks as if the bulls are making a bit of a last stand at the 0.75 level. This bounce is predicated on the idea that there is more easing coming out of the Fed, something the Chairman seemed to ignore during the Congressional testimony this past week. With this in mind, there could be a nasty surprise coming in this pair, and we aren’t interested in buying until we clear the highs form this past week on a daily close. On a break below the 0.75 handle – we are aggressive sellers. With all of the headline risks out there, we aren’t comfortable buying this pair at all right now.

NZD/USD Forecast for the Week of June 11, 2012, Technical Analysis
NZD/USD Forecast for the Week of June 11, 2012, Technical Analysis

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