NZDUSD on Wednesday rose 1.09% to 0.58730. What we know.

NZDUSD Analysis

Performance after Wednesday
Wednesday1.09%63.1 Pips
Week to-date1.14%66.1 Pips
November1.22%70.8 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Bureau of Labor Statistics
🇳🇿 New Zealand Labour Cost Index (LCI) (3-mth) in Q3 below forecast and dropped to 0.8% compared to previous figure 1.1% in Q2 Stats NZ
🇳🇿 New Zealand Unemployment Rate in Q3 rose to 3.9% compared to previous figure 3.6% in Q2 Stats NZ
🇺🇸 U.S. Housing Price Index (1-mth) in August exceed forecast and dropped to 0.6% compared to previous figure 0.8% in July
🇺🇸 U.S. Employment Cost Index in Q3 exceed forecast and rose to 1.1% compared to previous figure 1% in Q2


What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 1.09% to 0.58730. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.59025 with break above could target R2 at 0.59321 or figure level area. While towards the downside, we are looking at daily low of 0.57884 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.58750 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 1.14% over the past few days.

Key levels to watch out:

Daily Pivot0.58455

You might be interested in:

Federal Reserve issues FOMC statement. Federal Reserve
Housing Vacancies and Homeownership. Census Bureau
Rental Vacancy Rate. Census Bureau

Leave a comment

Your email address will not be published. Required fields are marked *