New Zealand Dollar Technical Outlook

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.