On the 4h chart of NZD/USD we can see a nice bearish breakdown to be in progress, with price now specifically trading in the middle of red wave three. As we know, wave 3 is known as the strongest and the steepest wave, which means in our case even more weakness may follow.
Regarding the intra-day view we see price now trading in sub-wave four, a temporary correction that may see limited upside around the 0.7002 region.
NZD/USD, 4H
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