NZDUSD Analysis: Falling credit card spending in New Zealand bearish for NZDUSD

April 24, 2020

By IFCMarkets

Falling credit card spending in New Zealand bearish for NZDUSD

New Zealand’s consumers cut credit spending in March: credit card spending fell 8.2% over year after 2.2% growth in February. This indicates deteriorating consumers’ confidence in financial prospects. This is bearish for NZDUSD.

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

 

Summary of technical analysis

OrderSell
Buy stopBelow 0.5982
Stop lossAbove 0.6012

Market Analysis provided by IFCMarkets