NZD/USD Forecast May 30, 2012, Technical Analysis

The NZD/USD pair had a nice rally on the Tuesday session in order to test the highs of the shooting star from Monday. This suggests to us that the Kiwi is looking to breakout, but we don’t get excited about it as we know the latest down move has been done with such conviction. It is because of this that we suspect we will have to wait out a pop in this market in order to sell from. Any rallies that show signs of weakness will be sold off as long as we are below the 0.80 level. A break of the recent lows also has us selling as well. 

NZD/USD Forecast May 30, 2012, Technical Analysis
NZD/USD Forecast May 30, 2012, Technical Analysis

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