Commodity Currencies Weekly Technicals 11 December 2013

NZD/USD – Daily Chart

Could have ended a minor Elliott wave abc correction at .8336 and stays bearish while below it

NZD/USD rose in three distinctive waves, a, b and c, from its .8084 November low to this week’s .8336 high.
We will therefore have a short term bearish outlook while no daily chart close above the .8336 high is being made.
The significant support zone seen at .8165/.8084 (200 day moving average, October low, 50% retracement, July peak and November trough) is thus back in the picture.
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