NZDUSD on Thursday rose 0.5% to 0.61904. Pair in consolidation. What we know.

NZDUSD by TradingView

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.5%	30.7 Pips
Week to-date	0.87%	53.4 Pips
March	-3.84%	-247.1 Pips

Upcoming key events (London Time)

No further events

What happened lately

📆 🇺🇸 USD Philadelphia Fed Manufacturing Survey in March exceed forecast and improved to -23.2 points compared to previous figure -24.3 points in February. Source
📆 🇺🇸 USD Building Permits (1-mth) in February exceed forecast and rose to 1.524M compared to previous figure 1.339M in January. Source
NZD Gross Domestic Product (QoQ) in Q4 dropped to -0.6% compared to previous figure 2% (revised from 2%). Source
📆 ☢️ 🇺🇸 USD Retail Control Group in February exceed forecast and dropped to 0.5% compared to previous figure 2.3, revised from 1.7% in January. Source
📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source

What can we expect from NZDUSD today?

NZDUSD on Thursday rose 0.5% to 0.61904. Price is above 9-Day EMA while Stochastic is falling in neutral zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61553 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62060 or trades above daily pivot 0.61806. While to the downside, the daily low of 0.61455 and 0.61553 (S1) as immediate support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62060 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:

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