On the hourly chart of NZDUSD we can see a nice higher degree impulse in the making, with price currently trading in one of its sub-waves, wave 4. Well, current intraday weakness could suggest a continuation into wave 5, but we believe this could be only a temporary drop, as we still expect price to make a final reversal higher into wave c of 4. That said, price could later then face a turning point lower around the 23.6/50.0 Fibonacci ratio.
NZDUSD, 1H
