ToniSignals

NZD/USD Signal - NZD NZ Business PMI - 17 Sep 2021

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD is trending to the downside currently, having broken below the key support zone following disappointing NZD Business PMI data, which presents business conditions in New Zealand. The Business PMI is an important indicator of the overall economic condition. A result that values above 50 signals appreciates (or is bullish ) for the NZD, whereas a result that values below 50 is seen as negative (or bearish ). Technically the pair has broken key support, and we also anticipate USD strength to drive the exchange rate lower.