NZD/USD: Any rallies are classified as corrective and we continue to see this market in the process of carving out a major longer-term top. From here, we look for the formation of the next major lower top somewhere around 0.8000 ahead of the next downside extension. Look for a break and close back under 0.7770 to help confirm bias and accelerate declines.
--- Written by Joel Kruger, Technical Currency Strategist
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