New Zealand Dollar Technical Outlook

Published May 21st, 2008 - 05:17 GMT
Al Bawaba
Al Bawaba

Kiwi has reversed in impressive fashion.  The break through .7727 negates the near term bearish bias. 



 There are 5 waves up from .7536 and a corrective decline to .7710, indicating with a high probability that the next leg up in the NZDUSD is underway.  A bullish target is .7947 (100% extension).