From what I can see on my NZDUSD analysis, it looks like it is on its way to form the second shoulder of the inverse head and shoulders formation. I'm looking to go long once it reaches my purple zone and bounces on the black trend line. My take profit level is at the next upper purple zone, which will be my sell zone once it reaches that point since we're currently trading inside a channel. If you decide to open a buy position, keep the fundamentals that might this setup into consideration. Happy Trading!!