NZD/USD Outlook (30 July 2020)
Overall, NZD/USD is trending upwards. Recently, NZD/USD has been ranging across.
The New Zealand Building Consents m/m data (Actual: 0.5%, Forecast: NA, Previous: 41.7% revised from 35.6%) released earlier today indicated a slight increase in the number of approved houses for construction.
Also, the New Zealand ANZ Business Confidence data (Actual: -31.8%, Forecast: NA, Previous: -29.8) released indicated a slight decline in the business outlook from the surveyed business personals.
NZD/USD’s next support zone is at 0.65800 and the next resistance zone is at 0.67200.
Look for short-term buying opportunities of NZD/USD up until the release of the U.S. advance GDP data at 2030 (SGT).
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