New Zealand Dollar Technical Outlook

Published May 5th, 2009 - 07:29 GMT
Al Bawaba
Al Bawaba

The head and shoulders ‘look’ is still there but the decline from .5987 is in 3 waves, which warns of additional upside potential.  Also, the right shoulder is consuming too much time.  Remaining above .5624 keeps the NZDUSD on a path towards higher prices.