FXCM

New Zealand Dollar Technical Outlook

Tuesday August 25, 05:15 PM

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).

Source:Jamie Saettele, Senior Currency Strategist strategist@dailyf

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