New Zealand Dollar Rally Clearly Impulsive

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 and initial support is at .7361. Continue to look higher as setbacks should prove corrective.