JinDao_Tai

NZD/USD Outlook (04 November 2020)

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Overall, NZD/USD is ranging across. Recently, NZD/USD trended higher after a strong rally in the stock market led to the decline in demand of USD.

The New Zealand employment data released earlier today indicated a deterioration in the jobs market in the third quarter due to the negative impact of COVID-19.
  • Employment Change q/q (Actual: -0.8%, Forecast: -0.7%, Previous: -0.4%)
  • Unemployment Rate (Actual: 5.3%, Forecast: 5.3%, Previous: 4.0%)
The ANZ Business Confidence data (Forecast: NA, Previous: -15.7) will be released tomorrow at 0830 (SGT).

NZD/USD’s next support zone is at 0.65400 and the next resistance zone is at 0.67900.
As the U.S. Presidential Election is still in progress, look for short-term selling opportunities of NZD/USD.

Free trading community: discord.gg/b7X35tDD4T

Trading Course in Dubai www.jindaotai.com/apt-june
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.