Friday, May 28, 2021 5:46 AM EDT
The NZD/USD has formed a 1-2-3 pattern which buyers might use for pullbacks and a potential move to the upside.
After the RBNZ bullish move, the pair has started a retracement. We can see that the majority of gains have been erased but it should be just a correction. 0.7225-35 is the buying zone and we should see a bounce once the pair completes the retracement. Targets are 0.7265 followed by 0.7295 and 0.7308.
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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