New Zealand Dollar Technical Outlook

Published May 7th, 2009 - 06:41 GMT
Al Bawaba
Al Bawaba

I wrote yesterday that “on the daily today, 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 today, this count is confirmed.  .6340 is the objective and there is potential support at .5850.  Price should remain above .5782.