NZDUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -1.32% | -80.1 Pips |  |
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| Week to-date | -0.44% | -26.6 Pips |  |
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| April | -0.15% | -8.7 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Reserve Bank of New Zealand
Latest from X (Twitter)
What can we expect from NZDUSD today?
NZDUSD on Wednesday dropped -1.32% to 0.59779. 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 0.59346 with break below could see further selling pressure towards S2 at 0.58914. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60827 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.59654 would indicate selling pressure.
For the week to-date, take note that NZDUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.61692 |
| R2 | 0.6126 |
| R1 | 0.60519 |
| Daily Pivot | 0.60087 |
| S1 | 0.59346 |
| S2 | 0.58914 |
| S3 | 0.58173 |
