New Zealand Dollar Technical Outlook

Given the counts in the other USD pairs, we do not think that the NZDUSD advance from .7445 is complete but a sizeable correction is probably underway.

The rally from .7445 consists of 2 nearly equal waves (a-b-c) and could be wave A of a flat. Bigger picture, the NZDUSD is expected to advance to the 50% of .7921-.7445 at .7683 and perhaps even the 61.8%-78.6% at .7740-.7920. A rally to there would fill the 6/4 gap.

STRATEGY: EXIT