• NZD/USD fell to a seven-month low on Wednesday after weak New Zealand employment data strengthened expectations for a rate cut by RBNZ this month.
• New Zealand’s unemployment rate climbed to 5.3% in the third quarter, the highest since 2016, as employment levels remained flat, data from Statistics New Zealand showed on Wednesday.
•Separate data showed a slight drop in the participation rate to 70.3% in Q3 from 70.5% in Q2, and wage inflation stayed modest, with the private-sector LCI excluding overtime up 0.5%, following a 0.6% rise in the previous quarter.
• The uptick in the jobless rate aligned with forecasts from a Reuters poll and the central bank, though employment growth fell short of the 0.1% gain predicted in the poll.
.
• Persistent softness in New Zealand’s labour market and subdued wage growth are likely to strengthen the case for a cash rate cut at the central bank’s meeting later in November.
• Immediate resistance is located at 0.5706(Nov 6th high), any close above will push the pair towards 0.5728(50%fib).
• Support is seen at 0.5633(38.2%fib) and break below could take the pair towards 0.5518 (23.6%fib).
Recommendation: Good to sell around 0.5670, with stop loss of 0.5750 and target price of 0.5600


FxWirePro: NZD/USD consolidates around 0 .5810,room for further gains
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints
Euro Refuses to Die: EUR/JPY Holds 182.50, Eyes 184 Breakout
Bitcoin Yawns at Fed Cut – Coiled Tight at $92K: $90K Hold = Straight Shot to $100K
AUDJPY Range Play: Hold 102.95 Support, Target 105 on Breakout
FxWirePro: USD/JPY caught in narrow range, bias bearish
FxWirePro: EUR/AUD moves higher following downbeat Australian jobs report
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
Sterling Crushed by Double-Contraction GDP – EURGBP Spikes, Next Stop 0.8850–0.8900
FxWirePro: GBP/AUD recovers slightly but bears are not done yet
FxWirePro: GBP/AUD gives up early gains after UK GDP shock
NZDJPY Poised to Pop: Buy-the-Dip Setup Above Key 90 Support
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
UK GDP Flops Again: GBPJPY Drops to 207.22 But Bulls Hold the Line – Buy the Dip to 210? 



