New Zealand Dollar Technical Outlook

Published August 25th, 2008 - 05:55 GMT
Al Bawaba
Al Bawaba

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.  Short term resistance is the .7125/50 zone.