NZDUSD on Wednesday dropped -0.66% to 0.60330. What we know.

NZDUSD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday-0.66%-40.1 Pips
Week to-date-0.39%-23.9 Pips
June0.27%16 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$)


NZDUSD 4-hour Chart by TradingView

What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.66% to 0.60330. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.60091 with break below could see further selling pressure towards S2 at 0.59851. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60968 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60290 would indicate selling pressure.

For the week to-date, take note that NZDUSD is mixed as compared to the prior week.

Key levels to watch out:

R30.61447
R20.61207
R10.60769
Daily Pivot0.60529
S10.60091
S20.59851
S30.59413

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau
Quarterly Financial Report. Census Bureau
Quarterly Financial Report – Retail. Census Bureau
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau

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