The NZDUSD is nearing wedge support.

With elevated asset prices and inflation expectations running hot, the risk of the NZDUSD bouncing off the wedge support at the .7190 level seems pretty high. Also consider that we have the wedge trend line support, and a 61.8% Fibonacci retracement level of the May range comes in also at the .7190 level. Below this support would put the .7100 level in view, but our base case is for a rally back to the .7300 level wedge resistance.