New Zealand Dollar Technical Outlook


The short term count in the NZDUSD is eluding us but given the call for a AUDUSD strength (after a brief period of consolidation/weakness), look for Kiwi strength. We are showing the daily today since the short term chart is not so clear. Since the top in July at .8108, we contend that the NZDUSD is tracing out a large expanded flat. Wave B of the flat could test .8504 (127% of A) or .7634/69 (100% extension of a within B and 138.2% of A). As of now, risk is at .7921.

[B]STRATEGY[/B]: Bullish, against .7921. target .8499