NZDUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.22% | 13.9 Pips |  |
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| Week to-date | 0.87% | 53.7 Pips | |
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| May | 0.97% | 59.7 Pips | |
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Upcoming key events (London Time)
Thu 03:00 AM NZD Budget Release
What happened lately
USD Building Permits (1-mth) in April dropped to 1.416M compared to previous figure 1.437M (revised from 1.413M). Census Bureau 🇺🇸 Retail Trade Control Group in April rose to 0.7% compared to previous figure -0.4, revised from -0.3% in March Census Bureau
What can we expect from NZDUSD today?
NZDUSD on Wednesday rose 0.22% to 0.62427. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62215 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62730 or trades above daily pivot 0.62472. Break above could target R1 at 0.62685. While to the downside, we are looking at 0.62215 (S1) and daily low of 0.62260 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62730 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 | 0.63155 |
| R2 | 0.62942 |
| R1 | 0.62685 |
| Daily Pivot | 0.62472 |
| S1 | 0.62215 |
| S2 | 0.62002 |
| S3 | 0.61745 |
You might be interested in:
New Residential Construction. Census Bureau Manufacturing and Trade Inventories and Sales. Census Bureau Advanced Monthly Sales for Retail and Food Services. Census Bureau
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