Wedge on NZD weekly chart

I have been seeing a lot of wedges recently. Most of them are BIG and took the whole "Bull" move to complete. I saw one at DJIA, one at HSI ( already broken and coming down)and now NZD.


Fig 1 NZD Weekly Chart

Okay, if you look at the "wedge" formation on NZD, it is hard to determine if it is a wedge, because under normal circumstances, you need to have 5-6 points of contact with the envelop before you can consider a full pledge wedge.This guy has been sticking to the lower envelop for so long before it broke through.

While I am a little skeptical about this, I will still consider it a wedge. However, because of its steep slope, the fall might not be that strong. Its target should be around 94.9475. So I guess this qualifies for a 4th wave down (from the looks of it).