NZD/USD Outlook (04 February 2020)

Overall, NZD/USD is trending downwards. Recently, NZD/USD has been ranging within 30pips.
NZD/USD’s next support level is at 0.64400 and the next resistance level is at 0.66000.
The New Zealand employment data will be released tomorrow at 0545 (SGT).

Employment Change q/q (Forecast: 0.3%, Previous: 0.2%)
Unemployment Rate (Forecast: 4.2%, Previous: 4.2%)

NZD/USD’s next support level is at 0.64400 and the next resistance level is at 0.66000.
If the released data is better than or as forecasted, look for buying opportunities of the NZD/USD. If the released data is worse than forecasted, stay out of NZD/USD as it is very close to the support level of 0.64400.