NZD/USD fell on Tuesday as the risk off trade came back into play. However, the pair has been relentless in its bullishness over the last several months, so when put in perspective; it isn't that big of a move. In fact, we see this as a buying opportunity once we get a bit of supportive action in this pair. We suspect that the 0.81 and most certainly the 0.80 level will provide it. We are going to buy on any signs of support in the next couple of sessions. If we get a close below 0.80, it would be a sell signal in our eyes.

NZD/USD

NZD/USD Forecast March 7, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8041
0.8070
0.8122
0.8152
0.8203
0.8232
0.8284

 Fibonacci
0.8070
0.8101
0.8121
0.8152
0.8182
0.8202
0.8232

 Camarilla
0.8151
0.8159
0.8166
0.8152
0.8181
0.8188
0.8196

 Woodie's
-
0.8076
0.8133
0.8157
0.8214
0.8238
-

 DeMark's
-
-
0.8218
0.8159
0.8137
-
-