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New Zealand Dollar Technical Outlook

Wednesday, 21 May 2008 13:17:51 GMT

Written by Jamie Saettele, Currency Analyst

Kiwi has reversed in impressive fashion.  The break through .7727 negates the near term bearish bias. 

 There are 5 waves up from .7536 and a corrective decline to .7710, indicating with a high probability that the next leg up in the NZDUSD is underway.  A bullish target is .7947 (100% extension).

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