NZD=X

On the New Zealand Dollar daily chart, a significant break of a structure level occurred (indicated by the high), and the next step is to look for a pullback to that structure level for trading opportunities.

A live trade on the New Zealand Dollar was initiated on the 1-hour chart after a pullback to a structure level. The trade involved a specific price action pattern (head and shoulders) with a stop-loss below the shoulder and targets set for a 1:1 risk/reward and then at resistance.

New Zealand Dollar is predicted to move higher to a previous structure level, which is expected to act as resistance.

A potential long opportunity is identified for the New Zealand Dollar in a zone where a previous structure level coincides with a 382 Fibonacci retracement, which has historically acted as significant support/resistance.