To repeat from yesterday…“the NZDUSD may be nearing the end of a 3 wave movement from the low.
While this could be the first leg in a triangle or flat, risk is quickly shifting to the downside.” It is possible that the NZDUSD turns up from here to complete a ‘5’ (5 waves) from .6435 but the position of the AUDUSD suggests that the small B wave corrections are already underway. As such, expect additional weakness in wave B.