NZD/USD gapped at the open for Monday, only to fall and try to fill the gap. This will have been expected by traders when this happened, so the fall won't worry most bulls in this pair. The commodity trade continues to gain overall from the massive amounts of liquidity flowing into the markets, and the Kiwi will be one of the biggest beneficiaries.

The pair is still a buy only pair for us, and as a strategy we are buying dips and new highs as this pair simply grinds higher and higher over time. The 0.85 level is certainly in the cards going forward, and even higher will more than likely be seen. We will not sell the Kiwi at the moment.

NZD/USD

NZD/USD Forecast February 21, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8258
0.8299
0.8339
0.8380
0.8420
0.8461
0.8501

 Fibonacci
0.8299
0.8330
0.8349
0.8380
0.8411
0.8430
0.8461

 Camarilla
0.8356
0.8364
0.8371
0.8380
0.8386
0.8393
0.8401

 Woodie's
-
0.8298
0.8338
0.8380
0.8419
0.8460
-

 DeMark's
-
-
0.8400
0.8370
0.8319
-
-