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    Market analysis NZD/USD Outlook (30 September 2020)

    Related product:Forex
    Market analysis:Overall, NZD/USD is ranging across. Recently, NZD/USD moved higher into the key level of 0.66.

    The New Zealand Building Consents m/m data (Actual: 0.3%, Forecast: NA, Previous: -4.6% revised from -4.5%) released earlier today indicated an increase in the number of new building approvals issued in August.

    Also, the ANZ Business Confidence data (Actual: -28.5, Forecast: NA, Previous: -26.0) released indicated a slight increase in the level of pessimism from the surveyed businesses on New Zealand’s economic outlook.

    Currently, NZD/USD is testing to break the key level of 0.66. Its next support zone of 0.65200 and the next resistance zone is at 0.67600.
    Look for short-term buying opportunities of NZD/USD if it breaks above the key level of 0.66.

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