NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.11% | -6.6 Pips |  |
||
| Week to-date | 0.78% | 48 Pips |  |
||
| May | 0.87% | 54 Pips | |
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Upcoming key events (London Time)
Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇳🇿 Exports in April rose to 6.8$ compared to previous figure 6.28, revised from 6.51$ in March Stats NZ 🇳🇿 Trade Balance NZD (12-mth) in April exceed forecast and dropped to -16.8$ compared to previous figure -16.76, revised from -16.4$ in March Stats NZ 🇳🇿 Imports in April dropped to 6.38$ compared to previous figure 7.87, revised from 7.78$ in March Stats NZ 🇺🇸 Philadelphia Fed Manufacturing Survey in May below forecast and improved to -10.4 points compared to previous figure -31.3 points in April USD Building Permits (1-mth) in April dropped to 1.416M compared to previous figure 1.437M (revised from 1.413M). Census Bureau
What can we expect from NZDUSD today?
NZDUSD on Thursday dropped -0.11% to 0.62370. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.6203 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62690 or trades above daily pivot 0.6236. Break above could target R1 at 0.627. While to the downside, we are looking at 0.6203 (S1) and daily low of 0.62020 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.62020 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 | 0.6337 |
| R2 | 0.6303 |
| R1 | 0.627 |
| Daily Pivot | 0.6236 |
| S1 | 0.6203 |
| S2 | 0.6169 |
| S3 | 0.6136 |
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New Residential Construction. Census Bureau Manufacturing and Trade Inventories and Sales. Census Bureau Advanced Monthly Sales for Retail and Food Services. Census Bureau
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