NZDUSD on Thursday dropped -0.43% to 0.58859. What we know.

NZDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.43%	-25.2 Pips
Week to-date	-1.84%	-110.2 Pips
November	1.35%	78.5 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇳🇿 New Zealand RBNZ Inflation Expectations (3-mth) in Q4 dropped to 2.76% compared to previous figure 2.83% in Q3 RBNZ

What can we expect from NZDUSD today?

NZDUSD on Thursday dropped -0.43% to 0.58859. 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 0.5863 with break below could see further selling pressure towards S2 at 0.58401. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.59546 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.58859 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:

You might be interested in:

Powell, Opening Remarks. Federal Reserve
Monthly Wholesale Trade: Sales and Inventories. Census Bureau
Powell, Opening Remarks. Federal Reserve
U.S. International Trade in Goods and Services, September 2023. Bureau of Economic Analysis
U.S. International Trade in Goods and Services. Census Bureau