NZDUSD Undergoing A Temporary Consolidation
NZDUSD is trading nicely higher, probably in final stages of a temporary corrective retracement after the pair unfolded a five wave bearish structure from the 0.7239 level. As such we now think a nice reversal could follow next week. The Fibonacci ratios of 0.382, 0.5 or 61.8 could act as reversal lower.