NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.07%	-4.2 Pips
Week to-date	-0.61%	-37.4 Pips
August	-2.39%	-148.5 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD CPI Inflation Rate (1-mth)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

No major activities.

What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.07% to 0.60585. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.6036 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.60945 or trades above daily pivot 0.60652. Break above could target R1 at 0.60878. While to the downside, we are looking at 0.6036 (S1) and daily low of 0.60427 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60427 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.61%.

Key levels to watch out:

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