logo |

Forum

    Your location: Home >  Forum  >  Market analysis  >  Content details
    Singapore
    Market analysis NZD/USD Outlook (22 September 2020)

    Related product:Forex
    Market analysis:Overall, NZD/USD is trending upwards. Recently, NZD/USD rejected the resistance zone of 0.67600 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets.

    The Reserve Bank of New Zealand (RBNZ) will be announcing their interest rate decision tomorrow at 1000 (SGT). It is expected that the RBNZ will be holding rates unchanged at 0.25%. Having already expanded its Large Scale Asset Purchase (LSAP) programme from NZ$60 billion to NZ$100 billion during the previous monetary policy meeting in August, it is likely that the central bank will stay put for the moment. The RBNZ may also reiterate their plan on cutting interest rate below zero next year. Doing so may cause NZD/USD to further weaken from its recent downward move.

    NZD/USD’s next support zone is at 0.65200 and the next resistance zone is at 0.67600.
    Look for short-term selling opportunities of NZD/USD up until the release of the interest rate decision tomorrow at 1000 (SGT).

    Write your question...
    Please sign in first Sign up/in to comment
    0 Comments

    There is no comment yet. Make the first one.

    Jin_Forex
    Trader

    Successfully published

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.