NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.45% | 27.5 Pips |  |
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| Week to-date | -0.55% | -34.1 Pips |  |
||
| February | -0.08% | -4.8 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in January dropped to -0.1% compared to previous figure 0.1% 🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in February rose to 5.2 points compared to previous figure -10.6 points in January 🇺🇸 U.S. Monthly Retail Trade (1-mth) in January dropped to -0.8% compared to previous figure 0.4, revised from 0.6% in December Source: Census Bureau 🇺🇸 In the week ending 10 February, U.S. Initial Unemployment Insurance Claims dropped to 212K compared to previous figure 220K (revised from 218K) Source: Department of Labor 🇺🇸 U.S. New York Empire State Manufacturing Index in February improved to -2.4 points compared to previous figure -43.7 points in January
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What can we expect from NZDUSD today?
NZDUSD on Thursday rose 0.45% to 0.61130. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.61335 with break above could target R2 at 0.61541 or figure level area. While towards the downside, we are looking at daily low of 0.60796 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.61271 may suggest continuation after recent positive movement.
For the week to-date, take note that NZDUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.6181 |
| R2 | 0.61541 |
| R1 | 0.61335 |
| Daily Pivot | 0.61066 |
| S1 | 0.6086 |
| S2 | 0.60591 |
| S3 | 0.60385 |
