NZDUSD Analysis: Slowing New Zealand manufacturing bearish for NZDUSD

December 13, 2019

By IFCMarkets

Slowing New Zealand manufacturing bearish for NZDUSD

New Zealand’s manufacturing sector expansion slowed in November. Will the NZDUSD decline?

NZDUSD falling toward MA(200)

The price chart on 1-hour timeframe shows NZDUSD: H1 is trading sideways. The price is falling toward the 200-period moving average MA(200) which is rising. And the RSI oscillator is falling toward 50 level. 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