NZD/USD: Temporary Correction Could Be In Sight

 | Nov 18, 2015 05:47AM ET

NZD/USD can be trading in late stages of an extended red wave 3) that has a target of 261.8% near 0.6440. This is not far away, so traders must be aware of a new corrective bounce; ideally with three waves back in red wave 4), into the 0.6540-0.6590 area.

NZD/USD, 4H