The NZD/USD pair rose during the session on Tuesday, but failed to maintain the levels above the bottom of recent consolidation. Because the 0.8250 level held as resistance, we suspect that the next move might be slightly bearish as the daily candle showed a shooting star. However, the daily candle from Monday is a hammer, suggesting a real fight coming.

The pair is bullish overall, but the recent action suggests that we need to pullback a bit more to collect even more buyers. The pair is one we prefer buying, and will look to do so on signs of support after a pullback.

NZD/USD

NZD/USD Forecast March 14, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8071
0.8119
0.8151
0.8199
0.8231
0.8279
0.8311

 Fibonacci
0.8119
0.8149
0.8168
0.8199
0.8229
0.8248
0.8279

 Camarilla
0.8161
0.8168
0.8175
0.8199
0.8190
0.8197
0.8204

 Woodie's
-
0.8115
0.8142
0.8195
0.8222
0.8275
-

 DeMark's
-
-
0.8215
0.8191
0.8135
-
-