NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.53% | 32.6 Pips |  |
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| Week to-date | 1.42% | 86.9 Pips | |
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| December | 0.85% | 52.6 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 In the week ending 09 December, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 220K Source: Department of Labor 🇺🇸 U.S. Monthly Retail Trade (1-mth) in November exceed forecast and rose to 0.3% compared to previous figure -0.2, revised from -0.1% in October Source: Census Bureau
🇳🇿 New Zealand GDP (3-mth) in Q3 below forecast and dropped to -0.3% compared to previous figure 0.5, revised from 0.9% in Q2 Source: Stats NZ 🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5% 🇺🇸 U.S. Interest Rate Projections – 3rd year unchanged at 2.9% compared to previous rate 2.9% 🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.6% compared to previous rate 3.9% 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve 🇺🇸 U.S. Interest Rate Projections dropped to 5.4% compared to previous rate 5.6% 🇺🇸 U.S. Interest Rate Projections – 1st year dropped to 4.6% compared to previous rate 5.1% 🇺🇸 U.S. Producer Price Index (12-mth) in November below forecast and dropped to 0.9% compared to previous figure 1.2, revised from 1.3% in October 🇺🇸 U.S. Producer Price Index (1-mth) in November below forecast and rose to 0% compared to previous figure -0.4, revised from -0.5% in October
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What can we expect from NZDUSD today?
NZDUSD on Thursday rose 0.53% to 0.62055. 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 0.61771 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62496 or trades above daily pivot 0.62134. Break above could target R1 at 0.62417. While to the downside, we are looking at 0.61771 (S1) and daily low of 0.61850 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62496 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 | 0.63063 |
| R2 | 0.6278 |
| R1 | 0.62417 |
| Daily Pivot | 0.62134 |
| S1 | 0.61771 |
| S2 | 0.61488 |
| S3 | 0.61125 |
