From a price structure point of view, the decline since the March top at .8215 has been choppy and corrective.
The drop counts well as a double flat (this is a complex correction). Moreover, the legs of the decline are roughly equal (a common characteristic among corrections). The leg up from .7536 is the closest thing to an impulse that the NZDUSD has shown since the March top. As such, a bullish bias is warranted against .7536 (ideally price remains above .7767) and the target is above .8215.
STRATEGY: Bullish, against .7536, target above .8215