NZDUSD on Wednesday dropped -1.12% to 0.61001. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-1.12%	-69.2 Pips
Week to-date	-1.55%	-95.9 Pips
February	-0.3%	-18.2 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 12:00 AM NZD RBNZ’s Governor Adrian Orr speech

What happened lately

🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Reserve Bank of New Zealand
🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau

Latest from X (Twitter)

Tweets by Stats NZ

What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -1.12% to 0.61001. Price is below 9-Day EMA while Stochastic is falling.

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 0.60618 with break below could see further selling pressure towards S2 at 0.60236. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61775 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60814 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.55%.

Key levels to watch out: