Instrument: NZDUSD
Bullish Preference:
A buy position is envisaged if the price trades above 0.59006 with take profit at 0.59129
Bearish Preference:
A sell position is envisaged if the price trades below 0.58869 with take profit at 0.58770
Fundamentals:
None with Expected High Impact
Comment:
The NZD/USD currency pair experienced a rebound from its weekly lows, trading higher. The rise was attributed primarily to a weakening US dollar rather than the impact of China’s mixed economic data. This data included a 0.2% yearly fall in October’s Consumer Price Index (CPI) and a slightly better-than-expected 2.6% decrease in the Producer Price Index (YoY), which seemed to have no effect on the NZD/USD.
Analysis: SCRUM Team