NZD/USD rose during the session on Thursday as the risk on trade came back in full force. The continuing volatility in the Forex markets has kept this pair buoyant, and the New Zealand economy is one of the strongest of the major Western powers. This should continue to push prices higher, and the 0.8450 level will surely give way sooner or later as the resistance can only be temporary. The daily close above that level has us long this pair. We cannot condone selling until we are sub-.80 on a daily close.

NZD/USD

NZD/USD Forecast February 24, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8225
0.8263
0.8317
0.8355
0.8409
0.8447
0.8501

 Fibonacci
0.8263
0.8298
0.8320
0.8355
0.8390
0.8412
0.8447

 Camarilla
0.8346
0.8355
0.8363
0.8355
0.8380
0.8388
0.8397

 Woodie's
-
0.8267
0.8326
0.8359
0.8418
0.8451
-

 DeMark's
-
-
0.8428
0.8365
0.8336
-
-