NZD/USD - Nine month long ending diagonal could break soon

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
16 0 0
Since January Kiwi appears to be in an ending diagonal which is not uncommon for a C wave. This pattern looks like a wedge and consists of 5 waves and it looks like the fifth wave could be complete at 0.7485.

From 0.7485 a 5-wave             decline followed to 0.7234 after which 3 waves up were seen which suggests minor wave 1 is complete and wave 2 could be complete. But this 3-wave             rally is very small and last friday's decline could be a X wave which would point to a double zigzag and 3 more waves up before a 3th wave down starts. An alternative scenario could be that it breaks down straight away because we have already 3 waves up even though they are relatively small.

Above 0.7485 invalidates all of this.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out