NZDUSD Analysis: New Zealand slowing inflation bearish for NZDUSD

October 16, 2019

By IFCMarkets

New Zealand slowing inflation bearish for NZDUSD

New Zealand inflation slowed in the third quarter to 1.5% from a year earlier, after the 1.7% pace in the second quarter. Will the NZDUSD continue falling?

EURUSD rising toward MA(200)

On 1-hour timeframe NZDUSD: H1 is in downtrend, below the 200-period moving average MA(200) which is falling. The RSI indicator is below 50 level but has not reached the oversold zone yet.

Technical Analysis Summary

OrderSell
Sell stopBelow 0.6240
Stop lossAbove 0.6260

Market Analysis provided by IFCMarkets