NZDUSD on Wednesday rose 0.47% to 0.62210. Pair in consolidation. What we know.

NZDUSD on Wednesday rose 0.47% to 0.62210. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.47% 29 Pips
Week to-date -0.73% -45.6 Pips
March 0.59% 36.3 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft

What happened lately

📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source

NZDUSD Chart by TradingView

What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.47% to 0.62210. 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 0.61658 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62826 or trades above daily pivot 0.62242. While to the downside, the daily low of 0.61690 and 0.61658 (S1) as immediate support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62826 would suggest bullish bias after recent positive movement.

For the week to-date, take note that NZDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 0.6393
R2 0.63378
R1 0.62794
Daily Pivot 0.62242
S1 0.61658
S2 0.61106
S3 0.60522

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