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New Zealand Dollar Technical Outlook

Wednesday, 23 April 2008 13:13:18 GMT

Written by Jamie Saettele, Currency Analyst

The NZDUSD has exceeded .8024 as expected.  This may complete an A-B-C rally from .7781.  

Remember, our focus is on the support line that dates to August 2007.  Our longer term bias is that a large wave B of an expanded flat is complete at.8215 and that the NZDUSD is headed lower in a C wave that will eventually drop below .5927.

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