New Zealand Dollar Technical Outlook

Published April 23rd, 2008 - 05:13 GMT
Al Bawaba
Al Bawaba

The NZDUSD has exceeded .8024 as expected.  This may complete an A-B-C rally from .7781.  



Remember, our focus is on the support line that dates to August 2007.  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.