Kiwi tried and failed to break the critical .7684 level and that leaves behind a small bear trap. The consolidation from late September is a choppy mess and we think this .77/80 range can persist. Our Elliott Wave count shows a large (a)-(b)-(c) expanded flat. The first 2 legs, (a) & (b) consisted of 3-wave moves and both are complete. Now a wave-(c) rally can complete the pattern by moving towards the mid .80’s.
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