Average price $3302
The global trade auction results are in and they show a -5.1% decline in the price index. The average price came in at $3302.
The low are the details of the auction and the recent auction results. As you can see the fall is the worst since July 2 at the least.
The NZDUSD is little impacted by the sharp fall. In fact, the pair has moved back above its 200 hour moving average at 0.65705 and looks to test resistance at 0.64752 and 0.65783. Stay above the 200 hour moving average would be more bullish for the pair. Move back below
and I would expect the dip buyers to turn back to sellers.
