New Zealand Dollar Technical Outlook

Published May 8th, 2009 - 06:52 GMT
Al Bawaba
Al Bawaba

I wrote earlier in the week that “I am highlighting how wave C of an A-B-C advance from the low may be underway.  Under this count, the NZDUSD would exceed .60 and potentially reach .6340 or .6740 in the next few months.”  Having broken the wave A high yesterday, this count is confirmed.  .6340 is the objective.  Remaining above .5890 keeps the near term trend pointed higher.