Showing posts with label New Zealand Dollar. Show all posts
Showing posts with label New Zealand Dollar. Show all posts

Sunday, January 11, 2009

New Zealand Dollar Technical Outlook

I would still like to see the NZDUSD complete 5 waves up from .5186 but with patterns in the GBPUSD and AUDUSD suggesting weakness, I am not confident that Kiwi will exceed .6090.

In any case, a push through would target Fibonacci resistance at .6183, which is reinforced by former congestion.

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Tuesday, December 2, 2008

New Zealand Dollar Technical Outlook


There is quintuple divergence with RSI on the daily NZDUSD chart, which warns of a reversal.

Last Friday’s inside day reinforces the potential reversal to the upside. Staying above .5186 keeps the short term trend bullish.

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