NZDUSD on Wednesday rose 1.49% to 0.61279. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	1.49%	90 Pips
Week to-date	1.83%	109.9 Pips
May	4.07%	239.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Retail Trade Control Group in April dropped to -0.3% compared to previous figure 1, revised from 1.1% in March Source: Census Bureau
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in April dropped to 0.3% compared to previous figure 0.4% in March Source: Bureau of Labor Statistics
🇺🇸 U.S. New York Empire State Manufacturing Index in May dropped to -15.6 points compared to previous figure -14.3 points in April
🇺🇸 U.S. Producer Price Index (12-mth) in April rose to 2.2% compared to previous figure 1.8, revised from 2.1% in March
🇺🇸 U.S. Producer Price Index (1-mth) in April rose to 0.5% compared to previous figure -0.1, revised from 0.2% in March

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 1.49% to 0.61279. 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 0.61571 with break above could target R2 at 0.61862 or figure level area. While towards the downside, we are looking at daily low of 0.60410 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.61282 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 1.83% over the past few days.

Key levels to watch out: