The NZD/USD pair rose quite a bit for the session on Thursday, slamming into the bottom of the recent consolidation area. The area is centered on the 0.8250 handle, and this area will be critical for the bulls to get over in order to continue the run upwards. The pair is certainly far too bullish for us to sell - at least until we get a daily close below the 0.80 level - and as a result we are simply looking for reasons to buy. The breaking of the top of Wednesday's shooting star suggests real strength, so we are buying pullbacks in this pair as long as we are above the aforementioned 0.80 level.

NZD/USD

NZD/USD Forecast March 9, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8150
0.8184
0.8211
0.8244
0.8272
0.8306
0.8333

 Fibonacci
0.8184
0.8207
0.8221
0.8244
0.8268
0.8282
0.8306

 Camarilla
0.8222
0.8227
0.8233
0.8244
0.8244
0.8250
0.8255

 Woodie's
-
0.8182
0.8208
0.8243
0.8269
0.8304
-

 DeMark's
-
-
0.8258
0.8238
0.8197
-
-