New Zealand Dollar Technical Outlook

Published July 31st, 2009 - 07:01 GMT
Al Bawaba
Al Bawaba


The NZDUSD is in the same position as the AUDUSD.  The break to a 2009 high indicates that wave v of C is underway.  Although anticipating a reversal, there is no evidence of one yet.  Potential resistance is at .6958. A drop below .6467 exposes Fibonacci and structural support in the .6380-.6420 zone.