New Zealand Dollar Closes Below 200 day Average
Prepared by Jamie Saettele
The NZDUSD has closed below its 200 day average and I maintain that a 3rd wave is underway from 7824. The drop below 7342 makes a strong case that the NZDUSD completed wave b of a flat in late 2010 and is headed for an eventual drop below 6560. A 100% extension at 7191 is a near term objective.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.