NZDUSD on Thursday rose 0.98% to 0.62878. What we know.
|Performance after Thursday|
|Week to-date||1.69%||104.8 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Bureau of Labor Statistics
🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Department of Labor
🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February
🇳🇿 Building Permits seasonal adjustment. (1-mth) in March exceed forecast and rose to 7% compared to previous figure -9.4, revised from -9% in February Stats NZ
🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
🇳🇿 Unemployment Rate in Q1 unchanged at 3.4% compared to previous report in Q4. Stats NZ
What can we expect from NZDUSD today?
NZDUSD on Thursday rose 0.98% to 0.62878. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for NZDUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.63218 with break above could target R2 at 0.63557 or figure level area. While towards the downside, we are looking at daily low of 0.62067 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.62982 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 1.69% over the past few days.
Key levels to watch out:
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