NZDUSD Analysis
Performance after Wednesday | |||||
Period | Pct | Chg | Momentum | ||
Wednesday | -2.22% | -138.7 Pips | |||
Week to-date | -2.61% | -163.5 Pips | |||
May | -1.23% | -75.9 Pips |
Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized
Fri 01:30 PM USD Durable Goods Orders
Fri 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
What happened lately
🇳🇿 RBNZ Interest Rate Decision (Official Cash Rate) rose to 5.5% compared to previous rate 5.25% Reserve Bank of New Zealand
NZD Retail Trade Turnover (3-mth) in Q1 dropped to -4.1% compared to previous figure -0.6% (revised from -0.6%). Stats NZ
🇺🇸 New Residential Sales (1-mth) in April exceed forecast and rose to 0.683M compared to previous figure 0.656, revised from 0.683M in March Census Bureau
What can we expect from NZDUSD today?
NZDUSD on Wednesday dropped -2.22% to 0.61071. 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 0.60466 with break below could see further selling pressure towards S2 at 0.59861. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.62564 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60910 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -2.61%.
Key levels to watch out:
R3 | 0.63774 |
R2 | 0.63169 |
R1 | 0.6212 |
Daily Pivot | 0.61515 |
S1 | 0.60466 |
S2 | 0.59861 |
S3 | 0.58812 |
You might be interested in:
Minutes of the Federal Open Market Committee, May 2-3, 2023. Federal Reserve
New Home Sales. Census Bureau
Retail activity falls for the second quarter in a row. Stats NZ
Official Cash Rate (OCR) set to remain restrictive. RBNZ
Gross Domestic Product for the U.S. Virgin Islands, 2021. Bureau of Economic Analysis
Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.