New Zealand Dollar Technical Outlook

Published March 19th, 2008 - 05:10 GMT
Al Bawaba
Al Bawaba

An ending diagonal is underway from the 1/22 low at .7494.  Exceeding the wave 3 high of diagonal at .8214 would satisfy minimum expectations for wave 5. 



Today’s high is right at the wave 3 high of .8214.  It is possible that this is the top of wave 5 and the entire rally from .6639.  Under this scenario, larger wave C would begin now and eventually come under .6639.