Flat, abc correction: The NZD/USD has turned flat since failing to push above 0.87 in April. The 4H chart shows the lower highs since then, although the lows have been in the 0.8350-0.8380 area. End-of-April, start-of-May price action have come down in a couple of swings from 0.8585. It is completing an ABC correction that is 61.8% retracement of the previous upswing. Maybe we will see some near-term support around 0.8440…
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