We wrote Thursday that “Kiwi has been the quietest pair in the last few weeks as the decline from the top (.7491) takes on the shape of a wedge, which is a bullish pattern. A break through the top of the wedge near .7370 would signal that price is likely headed for a re-test of .7491.”
The rally from .7249 is clearly impulsive the setback from .7399 is corrective. Favor the upside and a test of .7491 as long as .7249 remains intact. Potential Fibonacci support is between .7342 and .7306.