NZDUSD Technical Analysis: Current Market Outlook:

The NZDUSD pair is currently positioned at a key technical level, indicating potential movement in either direction. However, with major USD-related economic data set to be released shortly, the market is poised for increased volatility.

Key USD Data (Release Time: Today):

Core Retail Sales m/m: Forecast at 0.1% (previous: 0.1%)
Retail Sales m/m: Forecast at 0.3% (previous: 0.1%)
Unemployment Claims: Forecast at 241K (previous: 258K)

Scenario 1: Positive USD Data

Strong retail sales or lower unemployment claims could boost USD strength, causing NZDUSD to dip. Expect possible short-term downside volatility or even a spike down to hunt liquidity. However, a recovery could follow, leading to an upside push.

Scenario 2: Negative USD Data

Weak retail sales or higher unemployment claims may weaken USD, prompting a bullish reaction in NZDUSD. This could trigger an upward spike, potentially extending the bullish trend.

Risk Management Tips:

Avoid over-leveraging: Markets can spike in either direction.
Use stop-losses wisely: Place stops in a safe zone to avoid whipsaws caused by news volatility.
Stay prepared for both scenarios and consider waiting for a clear trend after the news releases to confirm direction before entering new trades​