NZDUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.66% | 38.7 Pips |  |
||
| Week to-date | -0.31% | -18.6 Pips |  |
||
| April | -1% | -59.6 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇳🇿 New Zealand CPI Inflation Rate (12-mth) in Q1 dropped to 3.7% compared to previous figure 4.7% in Q4 Source: Stats NZ
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What can we expect from NZDUSD today?
NZDUSD on Wednesday rose 0.66% to 0.59174. Price is below 9-Day EMA while Stochastic is rising in oversold 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 0.59318 with break above could target R2 at 0.59462 or figure level area. While towards the downside, we are looking at daily low of 0.58898 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.59252 may suggest continuation after recent positive movement.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.31%.
Key levels to watch out:
| R3 | 0.59672 |
| R2 | 0.59462 |
| R1 | 0.59318 |
| Daily Pivot | 0.59108 |
| S1 | 0.58964 |
| S2 | 0.58754 |
| S3 | 0.5861 |
