NZDUSD on Wednesday dropped -0.42% to 0.62215. Pair in consolidation. Things to look out.

NZDUSD on Wednesday dropped -0.42% to 0.62215. Pair in consolidation. Things to look out.

NZDUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.42% -26.4 Pips
Week to-date 0.17% 10.4 Pips
March 0.54% 33.1 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized | Q4

What happened lately

📆 🇺🇸 USD Pending Home Sales (1-mth) | Feb in February exceed forecast and dropped to 0.8% compared to previous figure 8.1% in January. Source

NZDUSD 4-hour Chart by TradingView

What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.42% to 0.62215. Price is neutral near 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61981 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62708 or trades above daily pivot 0.62344. While to the downside, the daily low of 0.62110 and 0.61981 (S1) as immediate support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.62110 would indicate selling pressure.

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:

R3 0.63177
R2 0.62942
R1 0.62579
Daily Pivot 0.62344
S1 0.61981
S2 0.61746
S3 0.61383

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