NZD/USD Forecast for the week of December 10, 2012, Technical Analysis

The NZD/USD pair rose drastically during the previous five sessions as we slammed into the 0.83 resistance area. This resistance area runs all the way to 0.8350 as far as we can tell, and it looks like we are in the midst of a breakout. It is because of this that we are willing to buy this market once we get above the highs of the candle for the week, and would expect this market to run much higher if this happens. As far as selling is concerned, we are not interested until we get below the 0.80 level. Otherwise, we look at this is a short-term traders market.