New Zealand Dollar Triangle Breakout Opportunity

[B]Commentary[/B]: Kiwi is in a similar position as the AUDUSD. “A larger B wave or (2nd wave) is unfolding from .7553, which we expect to exceed .7731 before wave C (or 3rd wave) brings price much lower. The 38.2% of .8108-.7553 at .7765 is an objective for the end of the rally from .7531.”

A triangle may be complete. If so, then the pair is likely to break down (below .7531) and test the 6/13 low at .7452 in coming days. A rally above .7731 indicates that the B wave is unfolding as a flat and that price will test the mentioned resistance.

[B]Strategy[/B]: Bearish now, against .7662, target .7460