NZDUSD | Perspective for the new week

NZDUSD is down by more than 9% since the beginning of April 2022. With the pair looking increasingly oversold as the appearance of a reversal pattern on the 2H timeframe could probably be signalling the incitation of a retracement wave into the major bearish trendline identified on the daily time frame or we might be having a downtrend continuation right below the key level at 0.62700 in the new week.

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Comment:

Bullish bias triggered at the retest of structure as we are 50pips running in profit; we want to move the stop-loss to break even

Trade closed manually:

stop-loss hit with 53pips profit; a breakdown/retest of 0.63350 will welcome a selling opportunity.

Video update coming soon