New Zealand Dollar Technical Outlook

Published March 17th, 2009 - 06:15 GMT
Al Bawaba
Al Bawaba

The bullish target zone / potential topping area for the NZDUSD is between .5457 (former 4th wave and 50% retracement) and .56 (61.8% retracement).  Near term, strength is favored as long as price is above .52.  The pair closed right at the 55 day SMA yesterday.  MACD has turned from negative to positive for the first time since mid December.