NZDUSD on Wednesday dropped -0.02% to 0.61397. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.02%	-1.3 Pips
Week to-date	0.04%	2.3 Pips
June	0.38%	23.2 Pips

Upcoming key events (London Time)

Wed 11:45 PM NZD GDP (3-mth)
Wed 11:45 PM NZD GDP (12-mth)

What happened lately

🇳🇿 New Zealand GDP (3-mth) in Q1 rose to 0.2% compared to previous figure -0.3% in Q4 Source: Stats NZ
🇳🇿 New Zealand GDP (12-mth) in Q1 rose to 0.3% compared to previous figure -0.6% in Q4 Source: Stats NZ
🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April
🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau

Latest from X (Twitter)

Tweets by Stats NZ

What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.02% to 0.61397. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.61273 with break below could see further selling pressure towards S2 at 0.61148. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61476 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61250 would indicate selling pressure.

For the week to-date, take note that NZDUSD is mixed as compared to the prior week.

Key levels to watch out: