NZDUSD on Wednesday rose 0.09% to 0.61579. Things to look out.

NZDUSD on Wednesday rose 0.09% to 0.61579. Things to look out.

NZDUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.09% 5.6 Pips
Week to-date -0.28% -17 Pips
March 1.17% 71.4 Pips

Upcoming key events (London Time)

Thu 12:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Thu 12:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. Monthly Budget Statement in February dropped to -296$ compared to previous figure -22$ in January Source: Bureau of the Fiscal Service

Latest from X (Twitter)

What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.09% to 0.61579. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.61703 with break above could target R2 at 0.61827 or figure level area. While towards the downside, we are looking at daily low of 0.61447 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.61699 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is mixed as compared to the prior week.

Key levels to watch out:

R3 0.61955
R2 0.61827
R1 0.61703
Daily Pivot 0.61575
S1 0.61451
S2 0.61323
S3 0.61199

Leave a Reply

Your email address will not be published. Required fields are marked *