By IFCMarkets
Increasing commodity prices bullish for NZDUSD
Australia and New Zealand Banking Group’s World Commodity Price Index rose 1.2% on month in October following a reading of no change in previous month. Will the NZDUSD rise?
On 1-hour timeframe NZDUSD: H1 is in downtrend, above the 200-period moving average MA(200) which is levelling off. The RSI indicator is below 50 level but has not reached oversold zone.
Order | Sell |
Sell stop | Below 0.6399 |
Stop loss | Above 0.6419 |
Market Analysis provided by IFCMarkets