The Kiwi(NZDUSD) is moving nicely as anticipated since November 26, and then since the December 19 update.
Kiwi was in a very deep retracement down from June 2025 highs, but notice that the whole drop into the 78.6% was in three waves. So ideally, it can be a deep counter-trend movement, with an ending diagonal finished in November after RBNZ cut interest rates, but data showed that the broader committee believes the nadir has been hit for the easing cycle. So the Kiwi is coming up as there is no room for cuts, for now. Notice it can be now bottoming after the wedge pattern into wave C of (B), due to an impulsive recovery, which we see it as wave 1 of a new five-wave bullish cycle. After the recent projected abc corrective setback in wave 2, we can now see it resuming the bullish trend within wave 3 that can extend the rally much higher, just be aware of short-term pullbacks.
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