Kiwi(NZDUSD) points to more upside within a higher degree A-B-C recovery, ideally in wave D, which could target the upper side of the broader triangle around 0.5960 to 0.6010. That zone may act as resistance where the upside could be limited within the ongoing triangle. So, in the near term, there still appears to be room for more upside after the current wave B pullback, which can be a bullish triangle or slightly deeper flat correction. It’s already testing the upper part of the support zone around 0.5850 to 0.5795, from where we would expect another leg higher within wave C as long as the price stays above the recent lows.
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