The NZD/USD pair had a rough week by all measures. The 0.85 level above continues to hold off the bears, but the trend is decidedly up at this point, and that is the direction that we are most comfortable with. The 0.80 level below is without a doubt a line in the sand for the bulls in this pair. Until we break below that - we can only buy the Kiwi when we see support. Currently, we see the 0.82, 0.81, and 0.80 levels as possible support. With this being said, we are looking to see the market continue to the upside after a bit of a pullback. We won't sell until we close below the 0.80 level.

NZD/USD

NZD/USD Forecast for the Week of March 5, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.8295
0.8298
0.8303
0.8306
0.8311
0.8314
0.8319

 Fibonacci
0.8298
0.8301
0.8303
0.8306
0.8309
0.8311
0.8314

 Camarilla
0.8305
0.8306
0.8306
0.8306
0.8308
0.8308
0.8309

 Woodie's
-
0.8298
0.8303
0.8306
0.8311
0.8314
-

 DeMark's
-
-
0.8312
0.8307
0.8304
-
-