NZDUSD on Thursday rose 1.67% to 0.63926. What we know.

NZDUSD Analysis

Performance after Thursday
Thursday1.67%105 Pips
Week to-date2.96%183.6 Pips
July4.22%258.8 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Producer Price Index ex Food & Energy (1-mth) in June unchanged at 0.1% compared to previous report in May.
🇺🇸 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

NZDUSD 4-hour Chart by TradingView

What can we expect from NZDUSD today?

NZDUSD on Thursday rose 1.67% to 0.63926. 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 Thursday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.64259 with break above could target R2 at 0.64592 or figure level area. While towards the downside, we are looking at daily low of 0.63003 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.63964 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 2.96% over the past few days.

Key levels to watch out:

Daily Pivot0.63631

You might be interested in:

CPI for all items rises 0.2% in June; shelter up. Bureau of Labor Statistics
Official Cash Rate remains on hold. RBNZ

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