New Zealand Dollar Technical Outlook

Published July 24th, 2009 - 07:43 GMT
Al Bawaba
Al Bawaba


The NZDUSD has exceeded its 2009 high of .6601. Expect additional strength over the next several weeks (at least) to complete the rally from below .50. .6950 (pivot high from September 2008) is potential resistance. Recent highs are divergent with intraday momentum, suggesting that the NZDUSD is at risk of a sell off near term.