Australian consumer confidence decreased slightly, but business confidence managed to increase which boosted the Australian Dollar. Forex traders started to grow anxious about the state of the phase one US-China trade deal, as issues remain. The AUDNZD managed to remain inside its resistance zone, what is next for this currency pair, will bulls overrun resistance or will bears make a stand? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

The New Zealand ANZ Truckometer Heavy Index showed a healthy gain in October and slightly surpassed September’s gain. This is a positive sign for the New Zealand economy which was slightly countered by a small decrease in visitor arrivals. Forex traders are now awaiting this week’s RBNZ meeting where a 25 basis point interest rate cut is expected. How will this impact the AUDNZD? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.