NZDUSD on Thursday dropped -0.37% to 0.61765. Pair in consolidation. What we know.
|Performance after Thursday|
|Week to-date||-0.44%||-27.3 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
In the week ending 15 April, the Initial Unemployment Insurance Claims rose to 245K compared to 240K, revised from 239K in the previous report Department of Labor
🇺🇸 Philadelphia Fed Manufacturing Survey in April exceed forecast and dropped to -31.3 points compared to previous figure -23.2 points in March
🇳🇿 CPI Inflation Rate (12-mth) in Q1 below forecast and dropped to 6.7% compared to previous figure 7.2% in Q4 Stats NZ
🇳🇿 CPI Inflation Rate (3-mth) in Q1 below forecast and dropped to 1.2% compared to previous figure 1.4% in Q4 Stats NZ
What can we expect from NZDUSD today?
NZDUSD on Thursday dropped -0.37% to 0.61765. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61479 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62032 or trades above daily pivot 0.61756. Break above could target R1 at 0.62041. While to the downside, we are looking at 0.61479 (S1) and daily low of 0.61470 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.61470 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.44%.
Key levels to watch out:
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