We have changed our look on the NZDUSD and are now looking at a bigger five-wave bearish impulse in the making. We see first wave 1) as completed and second wave as well. Looks like wave 2) found a top at the 0.7435 level and current drop can be part of wave 3), that can unfold in days or weeks to come. Specifically we see sub-wave 1 of three in progress, that can search for a base near the lower channel lines.
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