NZD/USD Outlook (06 March 2020)

Overall, NZD/USD is trending downwards. Recently, NZD/USD broke above and moved back down to the key level of 0.63.
Currently, NZD/USD testing to break below the key level of 0.63. Its next support level is at 0.62200 and the next resistance level is at 0.64000.
The U.S. Non-Farm Employment data will be released later at 2130 (SGT). If the released data is overall positive and the USD strengthens, look for selling opportunities of NZD/USD if it is below the key level of 0.63.
If the released data is overall negative and the USD weakens, look for short-term buying opportunities of NZD/USD if it is above the key level of 0.63.