Narrowing New Zealand trade deficit bullish for NZDUSD
New Zealand’s trade deficit narrowed in September more than expected. Will the NZDUSD rise?
The price chart on 1-hour timeframe shows NZDUSD: H1 is trading sideways. The price is rising above the 200-period moving average MA(200) which is rising. And the RSI oscillator is above 50 level but has not 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.