New Zealand slowing inflation bearish for NZDUSD
New Zealand inflation slowed in the third quarter to 1.5% from a year earlier, after the 1.7% pace in the second quarter. Will the NZDUSD continue falling?
On 1-hour timeframe NZDUSD: H1 is in downtrend, below the 200-period moving average MA(200) which is falling. The RSI indicator is below 50 level but has not reached the oversold zone yet.
Technical Analysis Summary
| Order | Sell |
| Sell stop | Below 0.6240 |
| Stop loss | Above 0.6260 |