NZD/USD Forecast June 4, 2012, Technical Analysis

The NZD/USD pair fell most of the session on Friday, but was thrown a lifeline at the end of the day. The hammer that has formed suggests that we could see a bounce, and a break of the 0.77 level would have the bulls coming out in force. However, the trend is certainly down, so any negative headlines could reverse a move like that in short order. However, if we get a daily close under the 0.75 level, we think this pair can fall much further and we would be aggressively short at that point. 

NZD/USD Forecast June 4, 2012, Technical Analysis
NZD/USD Forecast June 4, 2012, Technical Analysis

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