Slowing Global Dairy Trade Price Index bearish for NZDUSD
Global Dairy Trade Price Index in New Zealand slowed to 0.2% after 2% increase on September 17. Will the NZDUSD decline?
The price chart on 1-hour timeframe shows NZDUSD: H1 is trading sideways. The price is above the 200-period moving average MA(200) which is level. And the RSI is rising above 50 level but hasn’t reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.