NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.11% | 6.6 Pips |  |
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| Week to-date | -0.54% | -33 Pips |  |
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| May | 3.6% | 211.8 Pips | |
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Upcoming key events (London Time)
Thu 11:25 PM NZD RBNZ’s Governor Adrian Orr speech
What happened lately
🇳🇿 New Zealand Exports in April rose to 6.42$ compared to previous figure 6.38, revised from 6.5$ in March Source: Stats NZ 🇳🇿 New Zealand Trade Balance NZD (12-mth) in April dropped to -10.11$ compared to previous figure -9.98, revised from -9.87$ in March Source: Stats NZ 🇳🇿 New Zealand Imports in April rose to 6.32$ compared to previous figure 5.9, revised from 5.91$ in March Source: Stats NZ 🇳🇿 New Zealand ANZ – Roy Morgan Consumer Confidence in May rose to 84.9 points compared to previous figure 82.1 points in April 
🇺🇸 U.S. New-Home Sales Change (1-mth) in April dropped to -4.7% compared to previous figure 5.4, revised from 8.8% in March 🇺🇸 In the week ending 18 May, U.S. Initial Unemployment Insurance Claims dropped to 215K compared to previous figure 223K (revised from 222K) Source: Department of Labor 🇳🇿 New Zealand Retail Trade Turnover (3-mth) in Q1 rose to 0.5% compared to previous figure -1.9% in Q4 Source: Stats NZ 🇳🇿 New Zealand Retail Sales excluding motor vehicles (3-mth) in Q1 rose to 0.4% compared to previous figure -1.7% in Q4 🇳🇿 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 🇳🇿 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
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What can we expect from NZDUSD today?
NZDUSD on Thursday rose 0.11% to 0.60994. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60828 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61336 or trades above daily pivot 0.61082. Break above could target R1 at 0.61248. While to the downside, we are looking at 0.60828 (S1) and daily low of 0.60916 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61336 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:
| R3 | 0.61668 |
| R2 | 0.61502 |
| R1 | 0.61248 |
| Daily Pivot | 0.61082 |
| S1 | 0.60828 |
| S2 | 0.60662 |
| S3 | 0.60408 |
