New Zealand Dollar .7300 Gives Way

Kiwi is in the same position as the AUDUSD. That is, a C wave lower appears to be unfolding from .7403. We are bearish against .7403 and looking for a decline to where wave C would equal wave A at .7161.

Potential short term support may come in from the 55 day SMA at .7219. Very near term, an extended 3rd wave may have ended at .7264 and .7310/14 should prove formidable (if the pair gets there).