Kiwi is bullish. Really bullish!
Let's take two steps back and look at this pair from the distance. The two correction seem to be related as they are basically equal and if we project the Move 1 to the end of the 2nd correction we get values above 0.9100. But let's be conservatives and use 61.8% instead. Then we get approx 0.8900 which is very close to the psychological 0.9000 level. Hence, I suspect that if this scenario proves to be right, then 0.9000 is the next stop.
Time will tell.
Let's take two steps back and look at this pair from the distance. The two correction seem to be related as they are basically equal and if we project the Move 1 to the end of the 2nd correction we get values above 0.9100. But let's be conservatives and use 61.8% instead. Then we get approx 0.8900 which is very close to the psychological 0.9000 level. Hence, I suspect that if this scenario proves to be right, then 0.9000 is the next stop.
Time will tell.
