NZDUSD on Thursday dropped -1.62% to 0.59208. What we know.
|Performance after Thursday|
|Week to-date||-1.11%||-66.2 Pips|
Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 In the week ending 07 October, U.S. Initial Unemployment Insurance Claims rose to 209K compared to previous figure 207K Department of Labor
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in September dropped to 4.1% compared to previous figure 4.3% in August Bureau of Labor Statistics
🇺🇸 U.S. Producer Price Index (12-mth) in September exceed forecast and rose to 2.2% compared to previous figure 2, revised from 1.6% in August
What can we expect from NZDUSD today?
NZDUSD on Thursday dropped -1.62% to 0.59208. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 0.58849 with break below could see further selling pressure towards S2 at 0.58489. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60254 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.59192 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:
You might be interested in: