New Zealand Dollar Technical Outlook

Published July 23rd, 2008 - 06:23 GMT
Al Bawaba
Al Bawaba

The NZDUSD continues to fall and is likely in a 3rd wave down.



A break of .7445 would confirm that speculation.  The alternate treats the rally from .7445 as a W wave in a complex correction with wave X coming down to current levels.  If this correct, then wave Y would begin soon and end above .7761.