NZDUSD on Wednesday rose 0.48% to 0.60893. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.48%	29.3 Pips
Week to-date	-0.93%	-57.3 Pips
February	-0.46%	-28 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Thu 06:40 PM NZD RBNZ’s Governor Adrian Orr speech
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics
🇳🇿 New Zealand RBNZ Inflation Expectations (3-mth) in Q1 rose to 3.22% compared to previous figure 2.76% in Q4 Source: RBNZ

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.48% to 0.60893. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60626 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.60920 or trades above daily pivot 0.60773. Break above could target R1 at 0.6104. While to the downside, we are looking at 0.60626 (S1) and daily low of 0.60506 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.60920 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: