NZD/USD fell during the Monday session as it attempted to break a resistance level at the 0.8250 level. The area now looks like a double top, and a break of this would then become a massively bullish sign. The commodity markets should continue to get a bid due to the extended low rates being announced by the Federal Reserve last week, and as a result - the Kiwi should get a bid. The braking above 0.8250 would be a great buy signal. Of course, we could see a bit of a pullback, and as long as 0.80 holds as support - we are willing to buy dips.

NZD/USD

NZD/USD Daily Forecast January 31, 2012, Technical Analysis

NZD/USD Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8087
0.8121
0.8175
0.8209
0.8263
0.8297
0.8351

 Fibonacci
0.8121
0.8155
0.8176
0.8209
0.8243
0.8264
0.8297

 Camarilla
0.8205
0.8213
0.8221
0.8209
0.8238
0.8246
0.8254

 Woodie's
-
0.8126
0.8186
0.8214
0.8274
0.8302
-

 DeMark's
-
-
0.8280
0.8218
0.8192
-
-