NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.68% | 40.1 Pips |  |
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| Week to-date | 0.45% | 26.6 Pips |  |
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| May | 1.29% | 75.9 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Average Hourly Earnings (1-mth) Fri 01:30 PM USD Average Hourly Earnings (12-mth) Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in March rose to 1.6% compared to previous figure 1.2, revised from 1.4% in February Source: Census Bureau 🇺🇸 U.S. Unit Labor Costs in Q1 preliminary estimate rose to 0.4% compared to previous figure 0.4% Source: Bureau of Labor Statistics 🇺🇸 U.S. Challenger Job Cuts in April dropped to 64.789K compared to previous figure 90.309K in March 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve 🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in March dropped to 8.488M compared to previous figure 8.813, revised from 8.756M in February Source: Bureau of Labor Statistics
🇳🇿 New Zealand Employment Change in Q1 dropped to -0.2% compared to previous figure 0.4% in Q4 Source: Stats NZ 🇳🇿 New Zealand Labour Force Participation Rate in Q1 dropped to 71.5% compared to previous figure 71.9% in Q4 Source: Stats NZ 🇳🇿 New Zealand Labour Cost Index (LCI) (3-mth) in Q1 dropped to 0.8% compared to previous figure 1% in Q4 Source: Stats NZ 🇳🇿 New Zealand Unemployment Rate in Q1 rose to 4.3% compared to previous figure 4% in Q4 Source: Stats NZ
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What can we expect from NZDUSD today?
NZDUSD on Thursday rose 0.68% to 0.59646. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.59838 with break above could target R2 at 0.6003 or figure level area. While towards the downside, we are looking at daily low of 0.59138 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.59680 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 | 0.6038 |
| R2 | 0.6003 |
| R1 | 0.59838 |
| Daily Pivot | 0.59488 |
| S1 | 0.59296 |
| S2 | 0.58946 |
| S3 | 0.58754 |
