NZDUSD Analysis: NZDUSD bias bullish despite declining trade surplus

June 26, 2020

By IFCMarkets

NZDUSD bias bullish despite declining trade surplus

New Zealand’s trade surplus declined in May: the trade surplus declined to NZ$1.25 billion from 1.34 billion in April, when a decline to 1.28 billion was expected. This is bearish for NZDUSD but the pair is biased upward.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelBuy
MA(200)Sell
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 0.6449
Stop lossBelow 0.6418

Market Analysis provided by IFCMarkets