NZD/USD Forecast December 27, 2012, Technical Analysis

The NZD/USD pair fell during the session on Wednesday as the market gapped after the Christmas holiday. The pair did find support though, and as a result we formed a hammer like candle. Because of this, it does look like we’re going to find enough support to eventually climb her way out of this area, and it makes sense as there is so much noise between the 0.82 and 0.80 handle is. In fact, this has been our plan for a couple of days now, to simply wait for some type of support in this general vicinity to start buying the Kiwi dollar again. As for selling, we won’t do it until we close below the 0.80 handle.