TechnoMeter

NZD/USD has fallen hard in the past five trading days down nearly 400 pips. A strong move of this nature suggests NZD/USD may be in an impulsive wave lower.



The move lower appears incomplete and the next cluster of wave relationships shows up near .65-.66.
The Elliott Wave model we are following suggests we are in a wave (iii) lower. Third waves tend to be the longest and strongest of the Elliott Wave sequence. Therefore, it should not come as a surprise to see an 800 pip sell off in the past month when it is delivered through a third wave.

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