Here is the key factor to keep in mind today for New Zealand Dollar trades:

• New Zealand Trade Balance: The New Zealand Trade Balance for August was reported at -NZ$1,235M monthly and at -NZ$3,200M year-to-date. Economists predicted a figure of -NZ$825M and of -NZ$2,910. Forex traders can compare this to the New Zealand Trade Balance for July which was reported at NZ$98M and at -NZ$3,205M. Exports were reported at NZ3.69B and Imports were reported at NZ4.92B. Economists predicted a figure of NZ$4.05B and of NZ$4.80B. Forex traders can compare this to Exports for July which were reported at NZ$4.63B and Imports which were reported at NZ$4.53B.
• New Zealand ANZ Activity Outlook and ANZ Business Confidence: The New Zealand ANZ Activity Outlook for September was reported at 29.6 and ANZ Business Confidence was reported at 0.0. Forex traders can compare this to the New Zealand ANZ Activity Outlook for August which was reported at 38.2 and to ANZ Business Confidence which was reported at 18.3.

Here are the key factors to keep in mind today for US Dollar trades:

• US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for July is predicted to increase by 0.2% monthly and by 5.8% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for June which increased by 0.1% monthly and which increased by 5.7% annualized.
• US New Home Sales: US New Home Sales for August are predicted to increase by 3.3% monthly to 590K new homes. Forex traders can compare this to US New Home Sales for July which decreased by 9.4% monthly to 571K new homes.
• US Consumer Confidence: US Consumer Confidence for September is predicted at 120.0. Forex traders can compare this to US Consumer Confidence for August which was reported at 122.9.
• US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for September is predicted at 13. Forex traders can compare this to the US Richmond Fed Manufacturing Index for August which was reported at 14.

Should price action for the NZDUSD remain inside the or breakout above the 0.7200 to 0.7240 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7220
• Take Profit Zone: 0.7400 – 0.7435
• Stop Loss Level: 0.7185

Should price action for the NZDUSD breakdown below 0.7200 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7175
• Take Profit Zone: 0.7100 – 0.7130
• Stop Loss Level: 0.7220

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.