Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand ANZ Activity Outlook and ANZ Business Confidence: The New Zealand ANZ Activity Outlook for December was reported at 13.6 and ANZ Business Confidence was reported at -24.1. Forex traders can compare this to the New Zealand ANZ Activity Outlook for November which was reported at 7.6 and to ANZ Business Confidence which was reported at -37.1.
- New Zealand Non Resident Bond Holdings: New Zealand Non Resident Bond Holdings for November were reported at 56.2%. Forex traders can compare this to New Zealand Non Resident Bond Holdings for October which were reported at 57.1%.
Here is the key factor to keep in mind today for US Dollar trades:
- US Housing Starts and Building Permits: US Housing Starts for November are predicted to increase by 0.2% monthly to 1,230K starts and Building Permits are predicted to decrease by 0.4% monthly to 1,260K permits. Forex traders can compare this to US Housing Starts for October which increased by 1.5% monthly to 1,228K starts and to Building Permits which decreased by 0.6% monthly to 1,263K permits.
Should price action for the NZDUSD remain inside the or breakdown below the 0.6825 to 0.6880 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6850
- Take Profit Zone: 0.6630 – 0.6680
- Stop Loss Level: 0.6900
Should price action for the NZDUSD breakout above 0.6880 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6900
Take Profit Zone: 0.7000 – 0.7055
Stop Loss Level: 0.6850
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
