NZDUSD is recovering in a five-wave manner, up from September lows. Price can now be in wave v) with potential resistance/turn near the 0.645/0.647 area, where Fib. ratios of 1.618 and the upper Elliott wave channel line sit.

A later drop below the lower Elliott wave channel line would confirm price retracing for a three-wave move, within a bigger, bullish trend.

NZDUSD, 1h