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NZDUSD on Thursday dropped -0.1% to 0.60679. What we know.

NZDUSD on Thursday dropped -0.1% to 0.60679. What we know.

NZDUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.1% -5.9 Pips
Week to-date -1.17% -72.1 Pips
June 0.85% 50.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. GDP Annualized in Q1 exceed forecast and rose to 2% compared to previous figure 1.3% in Q4 Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 below forecast and dropped to 4.9% compared to previous figure 5% in Q4 Bureau of Economic Analysis


NZDUSD 4-hour Chart by TradingView

What can we expect from NZDUSD today?

NZDUSD on Thursday dropped -0.1% to 0.60679. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 0.60447 with break below could see further selling pressure towards S2 at 0.60214. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61020 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60501 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.17%.

Key levels to watch out:

R3 0.61485
R2 0.61252
R1 0.60966
Daily Pivot 0.60733
S1 0.60447
S2 0.60214
S3 0.59928

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