New Zealand Dollar Technical Outlook

Published April 24th, 2008 - 04:35 GMT
Al Bawaba
Al Bawaba

The intraday patterns remain a mess so we are sticking with the bigger picture.  An a-b-c (corrective) advance may be complete at .8033.  



Our longer term bias is that a large wave B of an expanded flat is complete at.8215 and that the NZDUSD is headed lower in a C wave that will eventually drop below .5927.  The combination warrants a bearish bias.  Risk can be moved to .8033