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New Zealand Dollar Technical Outlook

Wednesday, 02 July 2008 14:34:56 GMT

Written by Jamie Saettele, Technical Currency Analyst

Bigger picture, the NZDUSD is expected to advance to the 50% of .7921-.7445 at .7683 and perhaps even the 61.8%-78.6% at .7740-.7920.

A rally to there would fill the 6/4 gap.  The up-down sequence from .7445 is probably waves A and B.  Wave C is considered underway as long as price is above .7530.

STRATEGY: Bullish, against .7530, target TBD

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