The pair is expected to decline.

Supposedly, the fifth wave of senior level continues to form, with the third wave (iii) forming within. If this assumption is correct and the price does not break the critical level 0.7600, the pair will continue declining to a level of 0.7200 within the third wave.

Trading tips

Sell the pair from the correction below the level of 0.7600 with a target at 0.7200.

Alternative scenario

Breakdown and consolidation above the level of 0.7600 will allow the pair to continue the rise up to the levels of 0.7900-0.8000. 

NZD/USD: wave analysis

NZD/USD: wave analysis

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