We've seen a nice pullback on NZD/USD into a prior volume cluster, false break of 0.62 with a doji and a bullish divergence with the RSI (2).
Assuming US CPI doesn't surprise to the upside, this looks like a decent swing trade long setup. Although a risk-on vibe and broad USD weakness is required to make it work.
Take note that 1-day implied volatility is 2.5x its 20-day average, which is the highest among FX majors. The NZ-US CESI spread is also diminishing to show economic data from New Zealand is faring better than the US on a relative basis.
A break beneath the doji low invalidates the bullish bias.