NZDUSD on Wednesday rose 0.17% to 0.63198. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.17%	10.8 Pips
Week to-date	1%	62.8 Pips
April	0.97%	61 Pips

Upcoming key events (London Time)

Thu 05:00 PM NZD Good Friday
Fri 06:00 AM USD Good Friday
Fri 01:30 PM USD Nonfarm Payroll Employment | Mar

What happened lately

📆 🇺🇸 USD S&P Global Composite PMI | Mar in March below forecast and dropped to 52.3 points compared to previous figure 53.3 points in February.
📆 🇺🇸 USD Goods and Services Trade Balance | Feb in February exceed forecast and dropped to -70.5$ compared to previous figure -68.7, revised from -68.3$ in January.
📆 ☢️ 🇳🇿 NZD RBNZ Interest Rate Decision (Official Cash Rate) increased to 5.25% compared to previous rate 4.75%.
📆 🇺🇸 USD Factory Orders (1-mth) | Feb in February exceed forecast and improved to -0.7% compared to previous figure -2.1, revised from -1.6% in January.
📆 🇳🇿 NZD NZIER Business Confidence (3-mth) | Q1 in Q1 improved to -66% compared to previous figure -70% in Q4.
📆 🇺🇸 USD S&P Global Manufacturing PMI | Mar in March below forecast and dropped to 49.2 points compared to previous figure 49.3 points in February.

What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.17% to 0.63198. Price is above 9-Day EMA while Stochastic is rising.

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 0.63725 with break above could target R2 at 0.64253 or figure level area. While towards the downside, we are looking at daily low of 0.62830 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.63805 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 1% over the past few days.

Key levels to watch out:

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Official Cash Rate increased to 5.25 percent. RBNZ
February job openings and layoffs and discharges decrease; quits edge up. Bureau of Labor Statistics Publications
Construction Spending. Census Bureau

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