NZDUSD on Wednesday rose 0.62% to 0.63708. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.62%	39.2 Pips
Week to-date	1.24%	77.8 Pips
May	3.04%	187.8 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 CPI Inflation Rate (12-mth) in April below forecast and dropped to 4.9% compared to previous figure 5% in March Bureau of Labor Statistics

What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.62% to 0.63708. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 0.63939 with break above could target R2 at 0.64169 or figure level area. While towards the downside, we are looking at daily low of 0.63220 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.63810 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 1.24% over the past few days.

Key levels to watch out:

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In April, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 4.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in April (SA); up 5.5 percent over the year (NSA).. Bureau of Labor Statistics Publications
Monthly Wholesale Trade: Sales and Inventories. Census Bureau
Retail card spending continues to rise in April 2023. Stats NZ

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