NZD/USD is turning nicely down from 0.7021. For now, however, price is still above 0.6947 swing, which must be broken to confirm the end of a three wave recovery in wave “y” of wave 2. Ideally, that breakout will open the door for a drop to 0.6890. We see intraday bearish trend in play as long as the market is below 0.7047.
NZD/USD 1 Hour Chart