Quarterly employment figures are the highlight of releases this week in New Zealand. Here’s an outlook for these events, and an updated technical analysis for NZD/USD. NZD/USD daily chart with support and resistance lines on it. Click to enlarge: The rate decision in New Zealand came out as expected, and helped stabilize the kiwi. Will it pick a direction now? ANZ Commodity Prices: Monday, 2:00. A significant portion of New Zealand’s economy is based on commodities’ exports, making this indicator important. A rise of 2.9% was recorded last month. A smaller rise is expected now. Labor Cost Index: Monday, 21:45. Combining inflation and employment, this indicator always rocks the kiwi. In the past year, quarterly rises have been between 0.3% and 0.4%. This time, a stronger rise is expected in this stable indicator – 0.5%. Employment data: Wednesday, 21:45. Inflation figures are important everywhere, and they have a stronger impact when they are released only once per quarter. Q2 was a bitter disappointment as employment change showed a drop of 0.3%. A significant correction is expected this time, with a rise of 0.5%. The unemployment rate, no less important jumped from 6% to 6.8% and was a shocker as well. It’s now expected to slide down to 6.7%. * All times are GMT. NZD/USD Technical Analysis The kiwi began the week with a drop towards the 0.74 line . It then recovered, and after settling above 0.7523 (mentioned in last week’s outlook), NZD/USD managed to close the week above 0.7634, at the high level of 0.7657. After passing 0.7634 and reaching the highest level in two years, NZD/USD now eyes the 0.7760 and 0.7920 that are not so distant anymore, though they were last seen in 2008. These lines are followed by the round psychological number of 0.80. Looking down under 0.7634, the 0.7524 line was a peak back in November 2009 and served as a pivotal line in the past week. 0.74 was a peak in the previous month, and now cushioned the fall of NZD/USD. More support is found at 0.7355 which capped NZD/USD in the summer. Even lower, 0.73 and 0.72 also worked as support and resistance lines in recent months, and are now getting closer. The round number of 0.70 is a strong and distant support line. I am neutral on NZD/USD. The close above 0.764 is a bullish sign, though the situation in New Zealand requires caution. Wednesday is a big day for NZD/USD, with the all-important FOMC decision in the US being published just before the quarterly employment figures. Choppy trading is guaranteed. Further reading: For a broad view of all the week’s major events worldwide, read the USD outlook. For EUR/USD, check out the Euro/Dollar forecast. For the Japanese yen, read the USD/JPY forecast. For GBP/USD (cable), look into the British Pound forecast. For the Australian dollar (Aussie), check out the AUD to USD forecast. For USD/CAD (loonie), check out the Canadian dollar. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam NZD/USD Forecast share Read Next Canadian Dollar – November 1-5 Anat Dror 12 years Quarterly employment figures are the highlight of releases this week in New Zealand. Here's an outlook for these events, and an updated technical analysis for NZD/USD. NZD/USD daily chart with support and resistance lines on it. Click to enlarge: The rate decision in New Zealand came out as expected, and helped stabilize the kiwi. Will it pick a direction now? ANZ Commodity Prices: Monday, 2:00. A significant portion of New Zealand's economy is based on commodities' exports, making this indicator important. A rise of 2.9% was recorded last month. A smaller rise is expected now. Labor Cost Index: Monday, 21:45.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.