New Zealand Dollar Technical Outlook

Published April 29th, 2008 - 04:47 GMT
Al Bawaba
Al Bawaba

Our preferred count has been that a 1st wave down from .8215 is a leading diagonal and a wave 2 bounce ended at .8033.



The NZDUSD has dropped below .7781, which makes a strong case that a 3rd wave decline is underway.  Bears can move risk to .7879.