NZD/USD Forecast April 2, 2013, Technical Analysis

The NZD/USD pair had a back and forth session on Monday, but eventually finished the session pretty much unchanged. This market has been grinding along of the 0.8350 handle lately, and looks like it’s not ready to make any type of statement in either direction for the time being. However, we do see there is more significant noise above them below, so we do think that a pullback could come. If that happens, we believe it is a buying opportunity as this market has overall been fairly strong. The 0.85 level should continue to be massive resistance and a break above that level would be a longer-term buy-and-hold signal.