NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.52% | 31.9 Pips |  |
||
| Week to-date | 0.17% | 10.7 Pips | |
||
| April | -1.76% | -110.3 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
USD Pending Home Sales (1-mth) in March rose to 0.8% compared to previous figure 0.8%. 🇺🇸 Core Personal Consumption Expenditures (3-mth) in Q1 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 4.4% in Q4 Bureau of Economic Analysis 🇺🇸 GDP Annualized in Q1 preliminary estimate below forecast and dropped to 1.1% compared to previous figure 2.6% in Q4 Bureau of Economic Analysis 🇺🇸 In the week ending 22 April, the Initial Unemployment Insurance Claims dropped to 230K compared to previous figure 245K Department of Labor USD Durable Goods Orders excluding Transportation in March rose to 0.3% compared to previous figure -0.3% (revised from 0%). Census Bureau
🇳🇿 Trade Balance NZD (12-mth) in March exceed forecast and dropped to -16.4$ compared to previous figure -15.72, revised from -15.64$ in February Stats NZ 🇳🇿 Imports in March rose to 7.78$ compared to previous figure 5.86, revised from 5.95$ in February Stats NZ
What can we expect from NZDUSD today?
NZDUSD on Thursday rose 0.52% to 0.61467. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61189 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61608 or trades above daily pivot 0.61398. Break above could target R1 at 0.61677. While to the downside, we are looking at 0.61189 (S1) and daily low of 0.61120 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61608 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 | 0.62165 |
| R2 | 0.61886 |
| R1 | 0.61677 |
| Daily Pivot | 0.61398 |
| S1 | 0.61189 |
| S2 | 0.6091 |
| S3 | 0.60701 |
You might be interested in:
Gross Domestic Product, First Quarter 2023 (Advance Estimate). Bureau of Economic Analysis Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau Advance Retail Inventories. Census Bureau Advance U.S. International Trade in Goods. Census Bureau Advance Wholesale Inventories. Census Bureau New Home Sales. Census Bureau
Monthly trade balance was a deficit of $1.3 billion. Stats NZ
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