The retracement has been in progress and typically it has A, B , C or W, X, Y legs which seems to fit well and it could be seen that we are well advanced in final leg up wave "Y" which it self has been divided in possible minor waves. If this interpretation is correct then we appear to be in wave b consolidation and is ready to make last move down for completion if it hasn't started already. Many say that Fundamentals for Kiwi is very positive and has 0.25% increase in its base interest rate. So it should continue higher. Whilst that is likely over longer term as I am suggesting in my chart, but could the price have already moved in anticipation and the big players have already started to lighten their position? I would say yes for the following reasons.
1. We are now at the top of the triangle like consolidation.
2. We have potential peak at news event.
3. Daily candle is displaying clear Topping tail.
4. Last swing up appears to be a (clear on daily), which is .
4. Triangle required final leg down to complete that pattern.
In summary could be good short with downside target in the area of 0.80