NZDUSD on Wednesday rose 0.71% to 0.61290. What we know.

NZDUSD on Wednesday rose 0.71% to 0.61290. What we know.

NZDUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.71% 43.5 Pips
Week to-date 0.4% 24.4 Pips
March 0.7% 42.5 Pips

Upcoming key events (London Time)

Thu 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in January dropped to 8.863M compared to previous figure 9.026M in December Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in January dropped to -3.6% compared to previous figure -0.3, revised from 0.2% in December Source: Census Bureau

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.71% to 0.61290. Price is above 9-Day EMA while Stochastic is rising.

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 0.61594 with break above could target R2 at 0.61898 or figure level area. While towards the downside, we are looking at daily low of 0.60682 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.61442 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:

R3 0.62354
R2 0.61898
R1 0.61594
Daily Pivot 0.61138
S1 0.60834
S2 0.60378
S3 0.60074

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