NZD/USD Outlook (22nd August 2019)

Overall, NZD/USD is trending downwards strongly. Recently, NZD/USD has resumed its downtrend, breaking the support level of 0.64000.

The New Zealand Retail Sales data will be released tomorrow morning at 0645 (SGT).

• Retail Sales q/q (Forecast: 0.1%, Previous: 0.7%)
  
• Core Retail Sales q/q (Forecast: 0.2%, Previous: 0.7%)
  

The retail sales figures are forecasted to be worse than previous data release.
If the released figures are worse than or as forecasted, the New Zealand dollar may weaken.

Its next support level is at 0.62500 and the resistance level is at 0.64000.