NZDUSD Buy trade opportunity
NZDUSD has been re-test the support line with a very Strong Bullish Pinbar candle and it has also made a Head and Shoulder Pattern. it is very good opportunity to take a long trade
‘Always trade with Stop Loss‘
NZD/USD higher after the larger than expected interest rate hike from the RBNZ
Reserve Bank of New Zealand raised its cash rate by 0.5% vs. the 0.25% consensus expectation
says will remain focused on ensuring that current high consumer price inflation does not become embedded into longer-term inflation expectations.
monetary tightening brought forward
Overall, NZD/USD is ranging across. Recently, NZD/USD traded into the resistance zone of 0.68400.
New Zealand banks will be closed today in observance of New Year’s Day.
Also, New Zealand banks will be closed tomorrow in observance of Second New Year’s Day.
Expect lower trading volume and volatility during the usual New Zealand market hours.
This Is Likely to Happen.
1)Trend Continuation Pattern (Bearish Flag)
3)Feb-Ret 0.5 Resistance being followed in previous impulse.
4)Confluence With Old Structure.
5) Strong Resistance Provided by Old Structure.