New Zealand Dollar Technical Outlook

Published September 3rd, 2008 - 07:15 GMT
Al Bawaba
Al Bawaba

Objectives that we cited recently were .6550 (161.8% Fibonacci extension) and .6739 (where wave 5 would equal wave 1). 



Today’s low at .6733 may very well be the end of wave 5 of larger 3 within the long term bear.  A rally back to .7220 is probably underway.  Short term support is at .6816.