New Zealand Dollar Technical Outlook

We have written recently that “the NZDUSD is expected to advance to the 50% of .7921-.7445 at .7683 and perhaps even the 61.8%-78.6% at .7740-.7920.

A rally to there would fill the 6/4 gap. The up-down sequence from .7445 is probably waves A and B. Wave C is considered underway as long as price is above .7483; bullish bias is warranted against there.” The target at .7720 has been hit. The next trade for NZDUSD will be a short against .7921. We’ll wait for now and see how action around this gap plays out.