[B]Commentary[/B]: We wrote yesterday that "the 161.8% extension of .7237-.7637/.7452 is at .8099 and is also potential resistance. Althought Kiwi has extended, the form remains the same and we are looking for a 4th wave (within the 5 wave rally from .7237) to eventually unfold before a 5th wave makes a new high.
The structure remains bullish." This morning?s high at .8107 is just above the mentioned .8099. Still, the form still suggests that any decline will be corrective and that Kiwi is headed higher. .8247, the 161.8% of .7714-.7940/.7882 is a new target. The structure is bullish above .7940.