NZDUSD move up from 12/23 low is extending and as pair keeps extending higher with shallow pull backs, it looks like the move up from 12/23 low is unfolding as an Elliott wave impulse when pair is still in wave 3. Rally to 0.7043 is labelled as wave 1 and dip to 0.6945 is labelled as a FLAT wave 2. Up from there wave 3 remains in progress towards 0.7266 – 1.7315. Once wave 3 is complete, expect the pair to pull back in wave 4 to correct the cycle from red 2 low and turn higher in wave 5 to complete a 5 wave move up from 12/23 (0.6857) low.Proposed wave 4 pull back should unfold in 3, 7 or 11 swings and would typically complete between 23.6 – 38.2 Fibonacci retracement of wave 3. Wave 4 pull back should not retrace more than 50% of wave 3 as per the new guidelines that we have introduced ourselves and also not overlap with wave 1. This means proposed wave 4 pull back, when seen, should stay above 0.7043 for the idea of impulse to remain valid. If wave 4 pull back retraces more than 50% of wave 3 or gets below 0.7043, that would mean move up from 0.6857 low is no longer an impulse but could still be wave 4 of a diagonal higher. If the pivot at proposed red 2 (0.6945) low gives up, that would suggest cycle from 0.6857 low ended as an ABC (zig-zag)At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.