Commentary: On Friday, we wrote "look for a drop below .6834 to complete the decline from .7272, which would be wave b in the correction from .6639. Potential support is the 78.6% of .6639-.7272 at .6775.
A strong rally in wave c is expected to register a new (above .7272)." Afer dropping below .6834, Kiwi has rallied back above .6900 this morning. However, keep risk tight as the rally to .6947 could be the end of a flat correction from .6834. We are showing that interpretation this morning. A bullish bias is warranted as long as price is above .6824.
Strategy: Flat