NZDUSD on Thursday rose 0.37% to 0.58218. Pair in consolidation. What we know.
|Performance after Thursday|
|Week to-date||0%||-0.2 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇺🇸 U.S. Durable Goods Orders excluding Defense in September rose to 5.8% compared to previous figure -0.7% in August Census Bureau
🇺🇸 U.S. Personal Consumption Expenditures Prices (3-mth) in Q3 preliminary estimate exceed forecast and rose to 2.9% compared to previous figure 2.5% in Q2 Bureau of Economic Analysis
🇺🇸 In the week ending 21 October, U.S. Initial Unemployment Insurance Claims rose to 210K compared to previous figure 198K Department of Labor
🇺🇸 U.S. GDP Annualized in Q3 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 2.1% in Q2 Bureau of Economic Analysis
What can we expect from NZDUSD today?
NZDUSD on Thursday rose 0.37% to 0.58218. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.57866 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.58292 or trades above daily pivot 0.58079. Break above could target R1 at 0.58431. While to the downside, we are looking at 0.57866 (S1) and daily low of 0.57727 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.58292 may suggest continuation after recent positive movement.
For the week to-date, take note that NZDUSD is mixed as compared to the prior week.
Key levels to watch out:
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