NZD/USD Outlook (23 October 2020)
Overall, NZD/USD is ranging across.
The New Zealand CPI q/q data (Actual: 0.7%, Forecast: 0.9%, Previous: -0.5%) released earlier today indicated an increase in inflation during the third quarter.
New Zealand banks will be closed next Monday in observance of Labor Day. Expect lower trading volume and volatility during the usual New Zealand market hours.
NZD/USD’s next support zone is at 0.65400 and the next resistance zone is at 0.67900.
With the positive inflation data, look for short-term buying opportunities of NZD/USD.
The New Zealand CPI q/q data (Actual: 0.7%, Forecast: 0.9%, Previous: -0.5%) released earlier today indicated an increase in inflation during the third quarter.
New Zealand banks will be closed next Monday in observance of Labor Day. Expect lower trading volume and volatility during the usual New Zealand market hours.
NZD/USD’s next support zone is at 0.65400 and the next resistance zone is at 0.67900.
With the positive inflation data, look for short-term buying opportunities of NZD/USD.