NZD/USD Forecast May 31, 2012, Technical Analysis

The NZD/USD pair had a horrible day on Wednesday as the duel shooting stars from Monday and Tuesday gave way to the bears. The pair looks very weak still, and as long as there are global risks out there, the Kiwi is going to suffer. The pair will have a lot of forces in places like Spain and Greece working against it as traders continue to shun riskier currencies like the Kiwi dollar. With this in mind, we feel that rallies are to be sold, and a fresh low could be as well. It currently looks as if the 0.75 level is very vulnerable to giving way as support as well. 

NZD/USD Forecast May 31, 2012, Technical Analysis
NZD/USD Forecast May 31, 2012, Technical Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *