Tickmill’s Investing Diva, NZDUSD Daily Outlook 05-05-20

<p>NZDUSD Daily Outlook – On Monday we found out that factory activity was slammed across the world in April, factory orders in the U.S. sank 10.3% in March, Australia’s job advertisements suffered their largest ever fall in April, and that the British consumer sentiment has dropped to its lowest since January 2012 all thanks to Coronavirus lockdowns.</p>
<p>However, yesterday oil was up 3% on Monday as more countries announced they would begin easing coronavirus lockdowns. At the same time, Japan’s Abe extended state of emergency to May 31.</p>
<p>Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the <a href="https://www.youtube.com/channel/UCygXlFW43dWBKnNty1s-W_g">Tickmill YouTube channel</a> and support us by liking and sharing this video with your forex trading friends.</p>
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<p>On Tuesday we’ll be eyeing RBA’s rate decision, Canada’s trade balance, and New Zealand’s unemployment rate.</p>
<p>Today I’m looking at the NZD/USD pair which completed its pullback phase on Monday after breaking above the daily Ichimoku cloud end of last week.</p>
<p>The future cloud is now bullish so purely from a technical point of view we could expect the pair to see gains from here potentially towards the 61% Fibonacci retracement level of 0.6259.<br />
Of course, tomorrow’s economic data could play a role in the market sentiment and change this outlook.</p>
<p>Do you think the NZD/USD pair is ready for more gains? Head over to the Comments section and let me know.</p>
<p><strong>Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.</strong></p>
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<p>The post <a rel="nofollow" href="https://blog.tickmill.com/fund-analysis/tickmills-investing-diva-nzdusd-daily-outlook-05-05-20/">Tickmill’s Investing Diva, NZDUSD Daily Outlook 05-05-20</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>