NZD/USD DOWNTREND AFTER CNY PPI
NZD/USD is trading sharply lower after last nights data coming out of the world second largest economy (China), China PPI slowed once again contracting -4.8% thus being the largest contraction since post Lehman. RBNZD is set to announce its cash rate on Wednesday which will further exacerbated volatility in the exchange rate. All Technical s point to the downside with a small rally going into the US sessions I would be looking to sell into this uptick in price coming of the MACD divergence.
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