NZDUSD Is Looking For A Bigger Recovery

Looking at the 4-hour time frame of the Kiwi with ticker NZDUSD, we can see a strong rebound after a completed final subwave “v” of C of (C), as Zealand beat jobs data, so seems like a new three-wave A-B-C rally can be in play within higher degree wave (D) that can recover the price back to the upper triangle line. Wave A looks to be finished after RNBZ delivers surprise 25 BPS rate cut to 5.25% today, so seems like it’s now making a pullback in wave B that can retest 0.59x support area before a continuation higher for wave C towards 0.61 – 0.62 resistance zone.

ew-forecast

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