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New Zealand Dollar Puts Up A Fight

By , Sr. Technical Strategist
06 September 2006 11:07 GMT
Additional resistance is at the 61.8% fibo at .6526.  A top may be in place at .6580 as both CCI and RSI are declining from their extreme levels (100 and 70).  If this is the case, then Kiwi may reverse recent strength at one of the aforementioned fibo levels and head lower.  Hourly RSI is near 70 (65 right now), which supports this idea.  A push above .6580 negates the bias. 

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06 September 2006 11:07 GMT