NZD/USD Technical Analysis for the Week of August 15, 2011

NZD/USD fell hard, bounced from the 0.80 level, and then formed a hammer this past week. This shows that the pair is ready to continue its bullish run, and as the Kiwi has been so strong – we are not willing to go against that trend. The pair is a buy if we can break the highs of the previous week, and the Kiwi will without a doubt appreciate. The breaking below 0.80 would be devastating, and we would sell this market aggressively.

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