New Zealand Dollar Technical Outlook

Published June 27th, 2008 - 06:42 GMT
Al Bawaba
Al Bawaba

Bigger picture, the NZDUSD is expected to advance to the 50% of .7921-.7445 at .7683 and perhaps even the 61.8%-78.6% at .7740-.7920.



A rally to there would fill the 6/4 gap.  The up-down sequence from .7445 is probably waves A and B.  Wave C is considered underway as long as price is above .7445.  As such, a bullish bias is warranted against .7445 (for a push through .7646).

STRATEGY: Bullish, against .7445, target TBD