NZDUSD on Wednesday rose 1.54% to 0.62983. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	1.54%	95.6 Pips
Week to-date	1.44%	89.3 Pips
July	2.68%	164.5 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in June below forecast and dropped to 0.2% compared to previous figure 0.4% in May Bureau of Labor Statistics
🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) unchanged at 5.5% compared to previous rate 5.5% Reserve Bank of New Zealand
🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) unchanged at 5.5% compared to previous rate 5.5% Reserve Bank of New Zealand

What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 1.54% to 0.62983. 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 0.63436 with break above could target R2 at 0.6389 or figure level area. While towards the downside, we are looking at daily low of 0.61821 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.63082 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 1.44% over the past few days.

Key levels to watch out:

You might be interested in:

Official Cash Rate remains on hold. RBNZ
Monthly Wholesale Trade: Sales and Inventories. Census Bureau
New Foreign Direct Investment in the United States, 2022. Bureau of Economic Analysis