New Zealand Dollar .7879 Key to Directional Bias

[B]Commentary:[/B] The form of the decline remains corrective but a drop under .7879 (21 day SMA at .7874) would make overlapping waves and indicate that a larger correction (or diagonal) was underway.

Daily RSI has dropped under 70 on the daily, which signals additional bearish potential.

[B]Strategy:[/B] Move to flat (from bearish)