NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.31% | -18.6 Pips |  |
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| Week to-date | -0.6% | -36.2 Pips |  |
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| March | -0.7% | -42.7 Pips | |
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What happened lately
🇳🇿 New Zealand Exports in February rose to 5.89$ compared to previous figure 4.81$ (revised from 4.93$) Source: Stats NZ 🇳🇿 New Zealand Imports in February rose to 6.11$ compared to previous figure 5.9, revised from 5.91$ in January Source: Stats NZ 🇳🇿 New Zealand Trade Balance NZD (12-mth) in February improved to -11.99$ compared to previous figure -12.62, revised from -12.5$ in January Source: Stats NZ 🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in March dropped to 3.2 points compared to previous figure 5.2 points in February 🇳🇿 New Zealand GDP (3-mth) in Q4 improved to -0.1% compared to previous figure -0.3% in Q3 Source: Stats NZ 🇳🇿 New Zealand GDP (12-mth) in Q4 improved to -0.3% compared to previous figure -0.6% in Q3 Source: Stats NZ 🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.1% compared to previous rate 3.6% 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve 🇺🇸 U.S. Interest Rate Projections – Longer rose to 2.6% compared to previous rate 2.5% 🇺🇸 U.S. Interest Rate Projections – 1st year below forecast and dropped to 3.9% compared to previous rate 4.6% 🇺🇸 U.S. Interest Rate Projections dropped to 4.6% compared to previous rate 5.4%
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What can we expect from NZDUSD today?
NZDUSD on Thursday dropped -0.31% to 0.60438. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60188 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61065 or trades above daily pivot 0.60626. Break above could target R1 at 0.60877. While to the downside, we are looking at 0.60188 (S1) and daily low of 0.60376 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60376 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.6%.
Key levels to watch out:
| R3 | 0.61566 |
| R2 | 0.61315 |
| R1 | 0.60877 |
| Daily Pivot | 0.60626 |
| S1 | 0.60188 |
| S2 | 0.59937 |
| S3 | 0.59499 |
