NZD/USD Forecast May 28, 2012, Technical Analysis

The NZD/USD pair did very little at the end of the day on Friday. After first rising, and then falling – it never really went anywhere. The doji for the session shows how much trouble it is having as buyers try to prop the pair up at the 0.75 support zone.

With the recent action, it looks as if the market is ready to fall again. The risks in Europe certainly have the markets in no mood to take on massive risk, so to think this pair would fall is hardly a stretch. On a daily close below the 0.75 level – we are sellers. Also, if we get a bounce, we are fading it on the first sign of weakness.

 

NZD/USD Forecast May 28, 2012, Technical Analysis
NZD/USD Forecast May 28, 2012, Technical Analysis

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