Steeper than expected PPI growth bullish for NZDUSD
Steeper producer prices increase in New Zealand was recorded in the September quarter instead of slowing of producer prices growth. 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 and 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.