Commentary: The Kiwi structure is unfolding as expected. We wrote yesterday that a correction is likely complete at .7005 and we expect the rally to accelerate in the next few hours in a 3rd wave.
The rally accelerated and the pair has exceeded the wave a high of .7272. Bullish objectives are the 100% ext. of .6639-.7272/.6824 at .7456 and the 61.8% of .8108-.6639 at .7547. We would like to update the bullish objectives to .7547/89. .7589 is the 161.8% ext. of .6824-.7185/.7005. Near term support is at .7323 and .7227.
Strategy: Remain bullish, keep risk at .7005, target .7547/89