New Zealand Dollar Small Correction Should Unfold

Commentary: The Kiwi structure is unfolding as expected. That is, the rally from .6824 is impulsive (5 waves), indicating additional upside potential.

Near term, expect a drop below .7071 to complete a small correction from .7159 before the next advance. A rally through .7272 would possibly complete an a-b-c correction from .6639 (much like the AUDUSD may have already done).

Strategy: Remain bullish, against .6824, target above .7272