NZDUSD on Wednesday dropped -0.4% to 0.61131. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.4%	-24.7 Pips
Week to-date	-2.01%	-125.4 Pips
January	-3.23%	-204.1 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in December rose to 0.1% compared to previous figure 0.2%
🇺🇸 U.S. Monthly Retail Trade excluding Automobile (1-mth) in December exceed forecast and rose to 0.4% compared to previous figure 0.2% in November

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What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.4% to 0.61131. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.60833 with break below could see further selling pressure towards S2 at 0.60536. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61516 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60877 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -2.01%.

Key levels to watch out: