GBPNZD Analysis: Rising food prices in New Zealand bearish for GBPNZD

April 17, 2020

By IFCMarkets

Rising food prices in New Zealand bearish for GBPNZD

Food prices rose in New Zealand in March: the food price index rose 0.7% after no change February. At the same time, retail sales fell in UK: same-store retail sales fell 3.5% in March after 0.4% decline in February. These developments are bearish for GBPNZD.

IndicatorVALUESignal
RSINeutral
MACDSell
Donchian ChannelNeutral
MA(200)Buy
FractalsSell
Parabolic SARSell

 

Summary of technical analysis

OrderSell
Buy stopBelow 2.0703
Stop lossAbove 2.0840

Market Analysis provided by IFCMarkets