NZD/USD Outlook (5 November 2019)

Overall, NZD/USD has been trending upwards. Recently, NZD/USD’s uptrend took a turn and moved lower.
The New Zealand employment data will be released tomorrow at 0545 (SGT).

Employment Change q/q (Forecast: 0.2%, Previous: 0.8%)
Unemployment Rate (Forecast: 4.1%, Previous: 3.9%)

If the data released are worse than forecasted, the New Zealand dollar may weaken.
The employment data provides a potential selling opportunity for NZD/USD.
Currently, NZD/USD is testing the support level of 0.64300. Its next resistance level is at 0.65700.