NZD/USD rose during the Thursday session as the pair gained back some of the losses from the previous session. The 0.8450 level above continues to be resistance, and we think the pair has plenty of support below. With this in mind, it is either a scalping pair if you are so inclined, or it is a matter or wait and see - with us buying a post-0.8450 daily close. The pair will continue to rise if the commodity markets do so as well. We presently see no reason whatsoever to sell this pair, and wouldn't consider it until we close below the 0.80 level.

NZD/USD

NZD/USD Forecast March 2, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8240
0.8284
0.8319
0.8363
0.8398
0.8442
0.8477

 Fibonacci
0.8284
0.8314
0.8333
0.8363
0.8393
0.8412
0.8442

 Camarilla
0.8332
0.8340
0.8347
0.8363
0.8361
0.8368
0.8376

 Woodie's
-
0.8282
0.8314
0.8361
0.8394
0.8440
-

 DeMark's
-
-
0.8420
0.8374
0.8341
-
-