New Zealand Dollar Technical Outlook

Published April 24th, 2009 - 06:54 GMT
Al Bawaba
Al Bawaba

Bigger picture, there are 5 waves down from that .6090, suggesting that the long term trend remains down.  Additionally, an expanded flat correction has unfolded from the February 2 low (.4958).  Weakness is favored against .5939.  Near term, there is potential Fibonacci resistance at .5761.