New Zealand Dollar Technical Outlook

Published May 8th, 2008 - 06:26 GMT
Al Bawaba
Al Bawaba

With the NZDUSD labeled the way we have it above, a bearish bias is warranted against .7935.



The move down from there is viewed as wave iii of 3 in a bear cycle from .8215.  Near term resistance is at .7780/.7840.

STRATEGY: Get bearish near .78, against .7935, target TBD