NZDUSD on Wednesday rose 0.08% to 0.62113. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.08%	5.1 Pips
Week to-date	0.46%	28.3 Pips
May	0.46%	28.3 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
🇳🇿 Unemployment Rate in Q1 unchanged at 3.4% compared to previous report in Q4. Stats NZ
🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Census Bureau

What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.08% to 0.62113. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61917 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62604 or trades above daily pivot 0.6226. Break above could target R1 at 0.62457. While to the downside, we are looking at 0.61917 (S1) and daily low of 0.62064 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62604 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 0.46% over the past few days.

Key levels to watch out:

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