NZD/USD Forecast February 17, 2012, Technical Analysis

The NZD/USD pair fell initially on Thursday as the risk off trade continued. However, the middle of the session had word of the European Central Bank getting ready to swap their Greek bonds for longer maturities, and this helped alleviate some of the worries that the markets have had recently. The candle formed for the session was a hammer, and it looks like the bulls are ready to step back in.

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