NZDUSD on Thursday dropped -0.49% to 0.61271. Why it matters.

NZDUSD on Thursday dropped -0.49% to 0.61271. Why it matters.

NZDUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.49% -30.1 Pips
Week to-date -0.79% -48.6 Pips
March 0.65% 39.8 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Monthly Retail Trade (1-mth) in February rose to 0.6% compared to previous figure -0.8% in January Source: Census Bureau
🇺🇸 U.S. PPI excluding Food and Energy sectors (12-mth) in February unchanged at 2% compared to previous report in January.

Latest from X (Twitter)

What can we expect from NZDUSD today?

NZDUSD on Thursday dropped -0.49% to 0.61271. 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 0.60847 with break below could see further selling pressure towards S2 at 0.60424. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.62000 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61000 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 0.62847
R2 0.62424
R1 0.61847
Daily Pivot 0.61424
S1 0.60847
S2 0.60424
S3 0.59847

Leave a Reply

Your email address will not be published. Required fields are marked *