NZD/USD Moving Towards The Bouncing Zone

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.

(Click on image to enlarge)


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 ...

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