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New Zealand Dollar Technical Outlook

Wednesday, 03 September 2008 15:15:09 GMT

Written by Jamie Saettele, Senior Currency Strategist

Objectives that we cited recently were .6550 (161.8% Fibonacci extension) and .6739 (where wave 5 would equal wave 1). 

Today’s low at .6733 may very well be the end of wave 5 of larger 3 within the long term bear.  A rally back to .7220 is probably underway.  Short term support is at .6816.

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