New Zealand Dollar Reversal Opportunity

Commentary: Kiwi is in the same position as the AUDUSD. That is, 5 waves up from .7237 leave the NZDUSD vulnerable to a corrective move lower. Given that this could be the end of a much larger 5 wave rally (from .5927), a very sizeable correction and reversal opportunity is at the forefront. In fact, the decline from .7552 looks impulsive.

We are willing to get bearish now, against .7552, with a target TBD. Any retracement is an opportunity to align for a reversal. .7518, .7533, and .7544 are potential resistance.
Strategy: Bearish now, against .7552, target TBD