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NZ dollar pushes against upper trendline ... will it break through?

30 Apr 2010 14:08Peter Waring

NZ dollar staging a comeback?


The New Zealand dollar has today hit up against the upper edge of the downwards trending channel that it has been stuck in since October 2009 - as can be seen by the below chart. With NZ commodity prices at an all time high and the Australian economy in full swing one would have to argue that the case for a strong NZ dollar is a good one.

If the NZ dollar can push through the upper channel line then it will rise to challenge the 75c mark which is the high from October 2009. There is a more in-depth article here by Roger Kerr on the prospects for the NZ dollar which also discusses what could happen if rates rise in the USA.

Peter Waring
www.marketsunplugged.com


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