NZDUSD Grinding Higher In Channel, Wedge Forming

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Tom Stewarton 13/10/2021|
1 min read
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NZDUSD (1h) is grinding to the upside in an ascending channel, and is currently at channel support. Technically the pair now lies at channel support.  Upside from this level into the channel / trendline resistance is my play for todays trading.

Pre-asia session today the NZD Food Price Index data was released surprisingly positive (o.5% actual, -0.1% consensus). This gives the NZD a bullish fundamental factor for todays trading. Later today USD Consumer Price Index data will be released, which is forecasted to show slight growth on last months figures.