NZD/USD Outlook (11 February 2020)

Overall, NZD/USD is trending downwards. Recently, NZD/USD trended lower, breaking the key level of 0.64 downwards.
The Reserve bank of New Zealand (RBNZ) will be announcing their interest rate decision tomorrow at 0900 (SGT).
Due to the recent spreading of the coronavirus, it is expected that the RBNZ will keep rate unchanged at 1.00%.
We believe that the RBNZ will be monitoring closely the negative impact the coronavirus has on both the local and global economy for now. If the coronavirus continues to impact the economy negatively, the RBNZ may be considering a rate cut in the future.
The RBNZ will also be holding a press conference at 1000 (SGT). Volatility is expected during the press conference.
Currently, NZD/USD is moving towards the key level of 0.64.
Look for short-term selling opportunities of NZD/USD up until the interest rate decision.