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New Zealand Dollar Technical Outlook
Friday, 14 August 2009 15:00:37 GMT  |  Jamie Saettele, Senior Currency Strategist
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Bigger picture, the NZDUSD is in the same position as the AUDUSD.  The break to a 2009 high indicates that wave v of C is underway and nearing completion.  I wrote yesterday that “the rally from .6193 (wave 5) may be unfolding as a diagonal.  If this is the case, then price will poke above .6823 prior to reversing.”  Nearly touching that line now, the NZDUSD is at high risk of a sharp reversal.

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