NZDUSD has completed five waves lower from the red wave C) label around the 0.7402 mark and is currently in a bullish retracement process namely close to completing red wave A. Later, we expect three sub-waves to unfold within wave B) and a final push higher within final wave C) of this three waves. The whole correction will then find a probable region of resistance and a turning point lower around the 0.7176 area, from where bears may take over.
NZDUSD Hourly Chart
Gold is moving sharply lower, away from 1337 swing high where market found a top of wave X that belongs to a big complex decline visible on higher time frames. So we are tracking a double zigzag correction, which should see more weakness after the wave B bounce. At the moment, we see price in late stages of wave A after recent breakdown into sub-wave five. That said, three wave rise can be around the corner.
Gold 4 Hour Chart