Commentary: The NZDUSD is in the exact same position as the AUDUSD and GBPUSD and USDCAD (but inverse). Given that the GBPUSD, USDCAD, and AUDUSD all show clear 5 wave moves towards dollar weakness -- and that a countertrend 3 wave dollar rally is expected across the board, it is reasonable to expect a NZDUSD drop to at least .7648 (50% of .7383-.7913) or .7588 (61.8%) before the next advance.
Strategy: Bearish, against .7933, EXIT .7650
Al Bawaba
