NZDUSD on Thursday rose 0.49% to 0.62494. Pair in consolidation. What is going on.

NZDUSD on Thursday rose 0.49% to 0.62494. Pair in consolidation. What is going on.

NZDUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.49% 30.5 Pips
Week to-date -0.53% -32.9 Pips
March 0.77% 47.9 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft

What happened lately

📆 🇺🇸 USD Chicago Fed National Activity Index in February below forecast and dropped to -0.19 points compared to previous figure 0.23 points in January. Source
📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source

NZDUSD Chart by TradingView

What can we expect from NZDUSD today?

NZDUSD on Thursday rose 0.49% to 0.62494. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62107 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62942 or trades above daily pivot 0.62525. While to the downside, the daily low of 0.62138 and 0.62107 (S1) as immediate support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62942 would suggest bullish bias after recent positive movement.

For the week to-date, take note that NZDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 0.63715
R2 0.63329
R1 0.62911
Daily Pivot 0.62525
S1 0.62107
S2 0.61721
S3 0.61303

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Federal Reserve issues FOMC statement Source: Federal Reserve

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