NZDUSD on Thursday dropped -0.03% to 0.61131. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.03%	-2 Pips
Week to-date	-0.14%	-8.6 Pips
May	3.98%	234.1 Pips

Upcoming key events (London Time)

Fri 12:00 AM NZD RBNZ’s Governor Adrian Orr speech
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.3% compared to previous figure 1.6% in Q4 Source: Bureau of Economic Analysis
🇺🇸 In the week ending 25 May, U.S. Initial Unemployment Insurance Claims rose to 219K compared to previous figure 216K (revised from 215K) Source: Department of Labor
🇳🇿 New Zealand Building Permits seasonal adjustment. (1-mth) in April dropped to -1.9% compared to previous figure -0.2% in March Source: Stats NZ

Latest from X (Twitter)

Tweets by Stats NZ

What can we expect from NZDUSD today?

NZDUSD on Thursday dropped -0.03% to 0.61131. 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 0.60904 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61311 or trades above daily pivot 0.61108. Break above could target R1 at 0.61334. While to the downside, we are looking at 0.60904 (S1) and daily low of 0.60881 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60881 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: