Not a Member? Join Now!   Already a Member? Sign In!

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.  MACD slope is negative but the indicator remains elevated on a relative basis, signaling that bearish potential is significant.  Price ideally remains below .5939.