NZD/USD is dropping sharply, ideally unfolding a five-wave move for a fifth wave of a higher degree wave 3. Be aware of a temporary pullback as leg iv) of v/3, which ca show up, before further weakness may be seen.

Support for blue wave v of 3 can be near the Fib. ratio of 261.8, and near the lower Elliott wave channel line (0.6380/0.6367 region).

NZD/USD, 1h