FXstreet.com (Barcelona) - In an attempt to decipher the next NZD/USD directions from a mid-term standpoint, Imre Speizer, currency strategist at Westpac, is out with a note suggesting the pair remains in a broad broad upward trend since March 2009. "The triangular consolidation since August 2011 appears to be a correction of the rally from May 2010, in Elliot wave terms a fourth corrective wave (subdivided into A-B-C-D-E)" he says. Any eventual breakout from the triangle, according to the analyst, "should be upwards in a fifth and final wave to fresh record high, probably in 2013."
Forex Flash: NZD/USD to get a final wave to fresh record high? - Westpac
Fri, Sep 07 2012, 05:08 GMT | FXstreet.com
NZD/USD May 22 at 18:29 GMT
0.8060/62 (-1.33%)
H0.8207 L 0.8059
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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
