By IFCMarkets
Higher retail sales growth bullish for NZDUSD
New Zealand’s retail spending rose 1.6% over quarter in the three months to September following 0.2% gain in Q2. Will the NZDUSD rise?
The price chart on 1-hour timeframe shows NZDUSD: H1 is trading sideways. The price is rising above the 200-period moving average MA(200) which is rising. And the RSI oscillator is above 50 level and has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.
Market Analysis provided by IFCMarkets