Looks like we are in the first leg of an elliot
correction wave, if one of the next few 4h candles is an engulfing
bull then long it until roughly .7208 for a small profit and then wait for price to bounce off of resistance at .72158 before shorting it at .71964 to make sure that it is following the correction wave. the supply and demand
zone that has been touched and the possible formation of H&S
give more support to an overall downtrend on NZD for the next few weeks.