NZD/USD Technical Analysis for the Week of August 8, 2011

NZD/USD fell hard this past week, and even managed to break through the 0.85 support line. The pair suddenly doesn’t look as strong as it has, but the real battleground will be at the 0.85 level as we have bounced back towards it. The pair so far is still in an uptrend, but if the 0.85 level holds as resistance – this pair goes down. If we can get a daily close above that level, there is a case to buy.

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