New Zealand Dollar Objective at .7161

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 .7230. The most aggressive count has the Kiwi breaking below .7264 while .7316 remains intact.