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NZDUSD - Overbought on GDT

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    NZDUSD, 240min The NZDUSD rallied strongly yesterday initially through the 0.70000 level and then higher to 0 .7050 area on the release of strong GDT data. GDT is the Global Dairy Trade auction of nine key dairy products. It’s very important for the NZ economy as rising diary product commodity prices is good for the countries trade balance and export income. Prices rose 3.8% in the latest Global Dairy Trade (GDT) auction after a 2.1% gain previously. Although markets had been expecting

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