NZD/USD had a positive day on Tuesday as the market continues to sell the Dollar. The rumors of a possible Greek deal had the market in a risk on mode, and as a result the Kiwi was bought. However, the move wasn't all that strong as far as we see, and this could signal that the pair is finally ready to consolidate or pullback - both of which would be very welcome. The 0.82 level will be supportive if we fall, and most certainly the 0.80 level will be. We are bullish of this pair, but only if we can get some stability first in the form of a pullback and support - or at least consolidation. We can't sell until we are under the 0.80 level.

NZD/USD

NZD/USD Forecast February 8, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8260
0.8287
0.8336
0.8363
0.8412
0.8439
0.8488

 Fibonacci
0.8287
0.8316
0.8334
0.8363
0.8392
0.8410
0.8439

 Camarilla
0.8364
0.8371
0.8378
0.8363
0.8392
0.8399
0.8406

 Woodie's
-
0.8292
0.8347
0.8368
0.8423
0.8444
-

 DeMark's
-
-
0.8426
0.8370
0.8350
-
-