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 Forecast February 8, 2012, Technical Analysis
NZD/USD Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3