New Zealand Dollar Technical Outlook

There are 5 waves down from that .6090, indicating that the long term trend remains down. An expanded flat correction has unfolded from the February 2 low (.4958). Wave c is in 5 waves, RSI is divergent at the high and has rolled over from overbought territory on the daily. Similar to the AUDUSD, NZDUSD weakness suggests that an important top is in place. I’ll attempt to identify completions of any corrective advances.