New Zealand Dollar Technical Outlook

Published August 26th, 2008 - 06:10 GMT
Al Bawaba
Al Bawaba

Kiwi has followed the path we set out.  “The rally from .6824 is likely wave A of an A-B-C correction. 



Wave A took the form of a diagonal (leading).  The next move should be lower in a B wave to at least .7038 and perhaps the 61.8% at .6973.”  We get the drop to the 78.6% and the NZDUSD should be headed higher in a C wave that ends above .7215.