NZD/USD Outlook (05 August 2020)

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Overall, NZD/USD is ranging across. Recently, NZD/USD moved higher after bouncing up from the key level of 0.66.

The New Zealand employment data released earlier today indicated a slight job loss during the second quarter of 2020 while unemployment rate fell slightly.
  • Employment Change q/q (Actual: -0.4%, Forecast: -2.0%, Previous: 1.0% revised from 0.7%)
  • Unemployment Rate (Actual: 4.0%, Forecast: 5.5%, Previous: 4.2%)
The New Zealand Inflation Expectation q/q data (Forecast: NA, Previous: 1.24%) will be released tomorrow at 1100 (SGT).

NZD/USD’s next support zone is at 0.65800 and the next resistance zone is at 0.67000.
Look for short-term buying opportunities of NZD/USD up until the release of the New Zealand inflation expectation data tomorrow at 1100 (SGT).


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