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Sunday 21st, March 2010 -- 06:47 GMT
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New Zealand Dollar Technical Outlook
Posted: 02-07-2009 , 18:15 GMT


My focus remains on the longer term structure, especially the rally from .4890, which is a textbook zigzag.  Waves A and C are equal (and price reversed at the 50% retracement of the decline from .8219), which is common.  As mentioned in recent days, “the uneasy sentiment remains here since the recent decline is more corrective than impulsive.”  A close below the support line shown above would bolster the bearish cause. 

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