NZDUSD on Thursday rose 0.46% to 0.60033. Pair in consolidation. What you need to know.

NZDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.46%	27.3 Pips
Week to-date	-0.13%	-7.7 Pips
April	0.44%	26.2 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Producer Price Index (1-mth) in March dropped to 0.2% compared to previous figure 0.6% in February
🇺🇸 U.S. Monthly Budget Statement in March improved to -236$ compared to previous figure -296$ in February Source: Bureau of the Fiscal Service
🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Reserve Bank of New Zealand

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What can we expect from NZDUSD today?

NZDUSD on Thursday rose 0.46% to 0.60033. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.59766 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.60145 or trades above daily pivot 0.59955. Break above could target R1 at 0.60223. While to the downside, we are looking at 0.59766 (S1) and daily low of 0.59688 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.60145 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: