NZD/USD Forecast Nov. 18th, 2011, Technical Analysis

The NZD/USD pair fell on Thursday as traders continue to sell risk-related assets around the world. The Kiwi will be especially sensitive to the commodity markets as it is one of the well documented “Com Dolls”, and moves with the overall sentiment of commodity markets in general. As long as there are issues in the global debt markets, especially Europe, this pair falls. The 0.75 level below looks very supportive, and if it gives way – 0.70 is more than likely going to be seen. We can’t buy this pair right now as there is simply far too much headline risk out there.

Leave a Reply

Your email address will not be published.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