NZDUSD on Wednesday dropped -0.73% to 0.58528. What we know.
|Performance after Wednesday|
|Week to-date||-0.51%||-30.2 Pips|
Upcoming key events (London Time)
Thu 05:00 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. Building Permits (1-mth) in September dropped to 1.475M compared to previous figure 1.541M (revised from 1.543M) Census Bureau
🇺🇸 U.S. Monthly Retail Trade (1-mth) in September exceed forecast and dropped to 0.7% compared to previous figure 0.8, revised from 0.6% in August Census Bureau
What can we expect from NZDUSD today?
NZDUSD on Wednesday dropped -0.73% to 0.58528. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
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 0.58285 with break below could see further selling pressure towards S2 at 0.58042. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.59195 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.58497 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.51%.
Key levels to watch out:
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