NZDUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 1.3% | 79.2 Pips |  |
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| Week to-date | 0.6% | 36.8 Pips |  |
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| June | 1.13% | 68.9 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Interest Rate Projections – 2nd year unchanged at 3.1% compared to previous rate 3.1% 🇺🇸 U.S. Interest Rate Projections rose to 5.1% compared to previous rate 4.6% 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve 🇺🇸 U.S. Interest Rate Projections – 1st year below forecast and rose to 4.1% compared to previous rate 3.9% 🇺🇸 U.S. Interest Rate Projections – Longer rose to 2.8% compared to previous rate 2.6% 🇺🇸 U.S. Monthly Budget Statement in May dropped to -347$ compared to previous figure 209.5$ in April Source: Bureau of the Fiscal Service 🇺🇸 U.S. CPI Inflation Rate (1-mth) in May dropped to 0% compared to previous figure 0.3% in April Source: Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (12-mth) in May dropped to 3.3% compared to previous figure 3.4% in April Source: Bureau of Labor Statistics
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What can we expect from NZDUSD today?
NZDUSD on Wednesday rose 1.3% to 0.61854. Price is above 9-Day EMA while Stochastic is falling.
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 0.62268 with break above could target R2 at 0.62682 or figure level area. While towards the downside, we are looking at daily low of 0.61340 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.62218 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 | 0.63146 |
| R2 | 0.62682 |
| R1 | 0.62268 |
| Daily Pivot | 0.61804 |
| S1 | 0.6139 |
| S2 | 0.60926 |
| S3 | 0.60512 |
