New Zealand Dollar Technical Outlook

Published July 20th, 2009 - 07:00 GMT
Al Bawaba
Al Bawaba


The NZDUSD is testing the top of its multi month range also.  A push above the June high (.6600) would make the rally from the March low in 5 waves (bearish for short term but bullish for long term).  The consolidation since the June high is either waves 1 and 2 of a bearish impulse or waves a and b of a 4th wave correction.