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New Zealand Dollar Technical Outlook

Thursday, 15 May 2008 14:24:23 GMT

Written by Jamie Saettele, Technical Currency Analyst

Kiwi continues to fall as expected in a 3rd wave.

Recent commentary has stated that “although the major top is probably in place at .8215, the fastest part of the decline is probably about to begin.”  This specific outlook (calling for the fat decline) holds as long as price is below .7727 (red line).  A short term measured objective is at .7440.

STRATEGY: Bearish, against .7727, target TBD

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