Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand Credit Card Spending: New Zealand Credit Card Spending for March decreased by 0.1%monthly and increased by 5.1% annualized. Forex traders can compare this to New Zealand Credit Card Spending for February which increased by 0.3% monthly and by 6.4% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US House Price Index: The US House Price Index for February is predicted to increase by 0.6% monthly. Forex traders can compare this to US House Price Index for January which increased by 0.6% monthly.
- US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for April is predicted at 10. Forex traders can compare this to the US Richmond Fed Manufacturing Index for March which was reported at 10.
- US New Home Sales: US New Home Sales for March are predicted to decrease by 3.0% monthly to 647K new homes. Forex traders can compare this to US New Home Sales for February which increased by 4.9% monthly to 667K new homes.
Should price action for the NZDUSD remain inside the or breakout above the 0.6630 to 0.6690 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.6660
- Take Profit Zone: 0.6880 – 0.6935
- Stop Loss Level: 0.6570
Should price action for the NZDUSD breakdown below 0.6630 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6610
- Take Profit Zone: 0.6425 – 0.6500
- Stop Loss Level: 0.6660
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
