NZDUSD Trading In Temporary Wave Four; Final Drop In View

On the 4h chart of NZDUSD we can see a nice higher degree bearish breakdown to be in progress, with price now specifically trading in red wave 4). The ideal reversal zone for wave 4) may be around the upper channel line, where sub-wave Y may find resistance. A break beneath the 0.6990 level would suggest lower levels to follow.