NZDUSD on Wednesday rose 0.28% to 0.61942. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.28%	17.1 Pips
Week to-date	0.85%	52.3 Pips
June	0.85%	52.3 Pips

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What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in April unchanged at 0.7% compared to previous report in March. Source: Census Bureau
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in April dropped to 8.059M compared to previous figure 8.355, revised from 8.488M in March Source: Bureau of Labor Statistics

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.28% to 0.61942. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61754 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61981 or trades above daily pivot 0.61868. Break above could target R1 at 0.62055. While to the downside, we are looking at 0.61754 (S1) and daily low of 0.61680 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61981 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 0.85% over the past few days.

Key levels to watch out: