|Performance after Wednesday|
|Week to-date||-1.79%||-111.4 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
📆 🇺🇸 USD Goods and Services Trade Balance in January below forecast and dropped to -68.3$ compared to previous figure -67.2, revised from -67.4$ in December. Source
📆 🇺🇸 USD Factory Orders (1-mth) in January below forecast and dropped to -1.6% compared to previous figure 1.7, revised from 1.8% in December. Source
What can we expect from NZDUSD today?
NZDUSD on Wednesday rose 0.06% to 0.6111. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60837 (S1).
Looking ahead today, we are looking at 0.6222 or 0.61377 (R1) as important resistance level while to the downside, the daily low of 0.6084 and 0.60837 (S1) as key support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.6138 would suggest bullish bias after recent positive movement.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.79%.
Key levels to watch out: