NZDUSD on Wednesday rose 0.86% to 0.61855. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.86%	52.8 Pips
Week to-date	1.09%	66.9 Pips
December	0.55%	34.1 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5%
🇺🇸 U.S. Interest Rate Projections – 3rd year unchanged at 2.9% compared to previous rate 2.9%
🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.6% compared to previous rate 3.9%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections dropped to 5.4% compared to previous rate 5.6%
🇺🇸 U.S. Interest Rate Projections – 1st year dropped to 4.6% compared to previous rate 5.1%
🇺🇸 U.S. Producer Price Index (1-mth) in November below forecast and rose to 0% compared to previous figure -0.4, revised from -0.5% in October
🇺🇸 U.S. Monthly Budget Statement in November exceed forecast and dropped to -314$ compared to previous figure -67$ in October Source: Bureau of the Fiscal Service
🇺🇸 U.S. CPI Inflation Rate (12-mth) in November dropped to 3.1% compared to previous figure 3.2% in October Source: Bureau of Labor Statistics

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.86% to 0.61855. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.6238 with break above could target R2 at 0.62905 or figure level area. While towards the downside, we are looking at daily low of 0.60836 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.62133 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is mixed as compared to the prior week.

Key levels to watch out: