NZDUSD on Wednesday rose 0.77% to 0.61944. What we know.
|Performance after Wednesday|
|Week to-date||1.1%||67.2 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Interest Rate Projections rose to 5.6% compared to previous rate 5.1%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.25% compared to previous rate 5.25% Federal Reserve
🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5%
🇺🇸 U.S. Interest Rate Projections – 1st year rose to 4.6% compared to previous rate 4.3%
🇺🇸 U.S. Interest Rate Projections – 2nd year rose to 3.4% compared to previous rate 3.1%
🇺🇸 U.S. CPI Inflation Rate (12-mth) in May below forecast and dropped to 4% compared to previous figure 4.9% in April Bureau of Labor Statistics
What can we expect from NZDUSD today?
NZDUSD on Wednesday rose 0.77% to 0.61944. 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 0.62397 with break above could target R2 at 0.62849 or figure level area. While towards the downside, we are looking at daily low of 0.61418 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.62360 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 1.1% over the past few days.
Key levels to watch out:
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