NZD/USD rose again on Tuesday as traders continue to buy the Kiwi overall. The commodity markets should continue to get a bid as the Federal Reserve has extended its ultra low interest rate policy. The Kiwi is particularly sensitive to these moves, and as long as there is a bid for stuff, the Kiwi should continue to shine.

The pair broke through the 0.8250 level, and has pierced the double top. The pair should continue to gain as long as we can stay above 0.82, and if we do pullback, there is a real chance that the 0.80 level will continue to be a floor in this market. Because of this, we are buying pullbacks going forward, and of course new highs.

NZD/USD

NZD/USD Forecast February 1, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8104
0.8158
0.8194
0.8248
0.8284
0.8338
0.8374

 Fibonacci
0.8158
0.8193
0.8214
0.8248
0.8283
0.8304
0.8338

 Camarilla
0.8204
0.8212
0.8221
0.8248
0.8237
0.8246
0.8254

 Woodie's
-
0.8154
0.8184
0.8244
0.8274
0.8334
-

 DeMark's
-
-
0.8266
0.8240
0.8176
-
-