On the daily chart of the NZD/USD currency pair, an interesting technical pattern emerged. Near the demand zone of 0.71250-0.71750, which also acts as a 50.0-61.8% correctional zone, a classic pattern of the Price Action "Inside Bar" was formed. In the near future, we do not exclude the bullish sentiment on the NZD/USD currency pair. We recommend you to pay attention to this situation.
If the price fixes above the local resistance of 0.72700, you need to look for entry points to the market to open long positions. The closest target for profit taking is the 0.73500 mark. In the medium term, the currency may reach the level of 0.74500. Confirmations and entry points to the market should be looked for on lower timeframes.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account