New Zealand Dollar Short Term Bearish

Commentary: The short term wave structure is unclear but the series of lower highs keeps us looking higher. The short term trend is considered bullish as long as price is above .8428.

The longer term trend is considered up as long as price is above .8332. However, the rally from .8332 is suspect and may be the b wave in an irregular flat correction. If this is the case, then price is likely to fall from close to current levels towards .8332. Strategy: None