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New Zealand Dollar Technical Outlook

Thursday, 24 April 2008 12:35:16 GMT

Written by Jamie Saettele, Currency Analyst

The intraday patterns remain a mess so we are sticking with the bigger picture.  An a-b-c (corrective) advance may be complete at .8033.  

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.  The combination warrants a bearish bias.  Risk can be moved to .8033

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