New Zealand Dollar Technical Outlook

As long as the NZDUSD is within the well defined upward sloping channel, calling for a top is a dangerous. The pair is now pressing against its 2009 high and looks poised to make new highs. A blow-off top looks likely and potential topping areas are .7250 (61.8% extension of .4890-.6601/.6193) and .7507 (78.6% retracement of decline from .8219).