NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.77% | -47 Pips |  |
||
| Week to-date | -3.35% | -210 Pips | |
||
| May | -1.98% | -122.4 Pips |  |
||
Upcoming key events (London Time)
Fri 01:30 PM USD Durable Goods Orders Fri 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
What happened lately
🇺🇸 Personal Consumption Expenditures Prices (3-mth) in Q1 preliminary estimate unchanged at 4.2% compared to previous report in Q4. The actual figure is also in line with the forecast Bureau of Economic Analysis 🇺🇸 In the week ending 20 May, the Initial Unemployment Insurance Claims rose to 229K compared to previous figure 225K (revised from 242K) Department of Labor 🇺🇸 Chicago Fed National Activity Index in April exceed forecast and rose to 0.07 points compared to previous figure -0.37, revised from -0.19 points in March 
🇳🇿 RBNZ Interest Rate Decision (Official Cash Rate) rose to 5.5% compared to previous rate 5.25% Reserve Bank of New Zealand NZD Retail Trade Turnover (3-mth) in Q1 dropped to -4.1% compared to previous figure -0.6% (revised from -0.6%). Stats NZ
What can we expect from NZDUSD today?
NZDUSD on Thursday dropped -0.77% to 0.60606. 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 0.6034 with break below could see further selling pressure towards S2 at 0.60075. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61063 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60436 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -3.35%.
Key levels to watch out:
| R3 | 0.61594 |
| R2 | 0.61329 |
| R1 | 0.60967 |
| Daily Pivot | 0.60702 |
| S1 | 0.6034 |
| S2 | 0.60075 |
| S3 | 0.59713 |
You might be interested in:
Minutes of the Federal Open Market Committee, May 2-3, 2023. Federal Reserve New Home Sales. Census Bureau
Retail activity falls for the second quarter in a row. Stats NZ Official Cash Rate (OCR) set to remain restrictive. RBNZ
Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.
