NZDUSD on Wednesday dropped -1.32% to 0.59779. What we know.

NZDUSD on Wednesday dropped -1.32% to 0.59779. What we know.

NZDUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -1.32% -80.1 Pips
Week to-date -0.44% -26.6 Pips
April -0.15% -8.7 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇳🇿 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

Latest from X (Twitter)

What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -1.32% to 0.59779. 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 0.59346 with break below could see further selling pressure towards S2 at 0.58914. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60827 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.59654 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:

R3 0.61692
R2 0.6126
R1 0.60519
Daily Pivot 0.60087
S1 0.59346
S2 0.58914
S3 0.58173

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