NZD/USD is making a five-wave recovery, as seen on the 4h chart, up from May lows. We see five completed legs in 1), followed by a three-wave A-B-C pullback in 2), and again a five-wave possibly completed, extended move in wave 3). Ideally, a temporary top is now in place for the third wave at the 0.658 level, from where an A-B-C move lower may start developing. Possible support is at 0.642/0.636 zone.

NZD/USD, 4h

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