NZD/USD Forecast December 22, 2011, Technical Analysis

NZD/USD rose on Wednesday in the early hours as the trading community looked to continue the bullish momentum from the session before. However, the day saw a selloff later in the session, and this caused the pair to print a perfect shooting star that has a top right about at the 0.78 level, an area we said to looks out for selling opportunities yesterday. The pair looks set to continue lower and try to fill the gap from a few weekends ago at the 0.74 level as the market become nervous again. We like selling the break of the Wednesday lows in order to attempt to fill the gap again.