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New Zealand Dollar Technical Outlook

Wednesday, 22 October 2008 14:04:13 GMT

Written by Jamie Saettele, Senior Currency Strategist

The short term NZDUSD chart looks the same as the AUDUSD short term chart.  A triangle appears to be unfolding.  However, it is not clear where a triangle would fit within the larger pattern (shown above). 

My long standing target of below .5927 has already been registered, so a larger recovery could be underway.  For now, it is best to stand aside with this pair.

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