New Zealand Dollar Technical Outlook

Published May 28th, 2009 - 07:20 GMT
Al Bawaba
Al Bawaba


The NZDUSD rally from .5484 is in 5 waves therefore the risk of at least a pullback, to at least .5829, is high. RSI divergence on the daily favors bears as well. You probably do not want to stand in front of a train but be on the lookout for a reversal.