NZD/USD Outlook (12 November 2019)

Overall, NZD/USD has been ranging across. Recently, the New Zealand dollar weakened after the Reserve Bank of New Zealand (RBNZ) released an inflation expectation (Actual: 1.80%, Previous: 1.86%) that is lower than previous release.
Shortly after the release of the inflation expectation, Westpac reported that they now expect the RBNZ to cut interest rate tomorrow at 0900 (SGT).
Regardless of the decision, read the monetary policy statement to learn about the RBNZ’s next course of direction.
Also, the RBNZ will be holding a press conference tomorrow at 1000 (SGT). During this time, volatility is expected of the NZD pairs.
Wait for the release of the interest rate decision before looking for any trade opportunities.
NZD/USD’s next support level is at 0.62600 and the next resistance level is at 0.64400.