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

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Signal Details
Entry Price: 
0.7073
Take Profit: 
0.6960
Stop Loss: 
0.7150
Direction: 
Sell
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Average: 5 (1 vote)

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.

Submitted by Toni H. on Thu, 16 Sep 2021 23:13:48 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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