NZD/USD Moving Towards the Bouncing Zone

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

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.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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