NZDUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -1.41% | -87.2 Pips |  |
||
| Week to-date | -1.05% | -64.5 Pips | |
||
| June | 0.98% | 58.9 Pips |  |
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Upcoming key events (London Time)
Thu 07:30 AM USD Federal Reserve Chair Jerome Powell speech Thu 01:30 PM USD GDP Annualized
What happened lately
🇺🇸 U.S. New Residential Sales (1-mth) in May exceed forecast and rose to 0.763M compared to previous figure 0.68, revised from 0.683M in April Census Bureau 🇺🇸 U.S. Housing Price Index (1-mth) in April exceed forecast and rose to 0.7% compared to previous figure 0.5, revised from 0.6% in March 🇺🇸 U.S. Durable Goods Orders excluding Transportation in May rose to 0.6% compared to previous figure -0.6% (revised from -0.2%) Census Bureau
What can we expect from NZDUSD today?
NZDUSD on Wednesday dropped -1.41% to 0.60755. 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 0.60431 with break below could see further selling pressure towards S2 at 0.60106. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61590 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60686 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.05%.
Key levels to watch out:
| R3 | 0.62239 |
| R2 | 0.61914 |
| R1 | 0.61335 |
| Daily Pivot | 0.6101 |
| S1 | 0.60431 |
| S2 | 0.60106 |
| S3 | 0.59527 |
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