NZDUSD on Thursday dropped -0.43% to 0.58859. What we know.
NZDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.43% | -25.2 Pips |  | ||
| Week to-date | -1.84% | -110.2 Pips |  | ||
| November | 1.35% | 78.5 Pips |  | ||
Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇳🇿 New Zealand RBNZ Inflation Expectations (3-mth) in Q4 dropped to 2.76% compared to previous figure 2.83% in Q3 RBNZ
What can we expect from NZDUSD today?
NZDUSD on Thursday dropped -0.43% to 0.58859. 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 0.5863 with break below could see further selling pressure towards S2 at 0.58401. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.59546 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.58859 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:
| R3 | 0.60004 |
| R2 | 0.59775 |
| R1 | 0.59317 |
| Daily Pivot | 0.59088 |
| S1 | 0.5863 |
| S2 | 0.58401 |
| S3 | 0.57943 |
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Powell, Opening Remarks. Federal Reserve Monthly Wholesale Trade: Sales and Inventories. Census Bureau Powell, Opening Remarks. Federal Reserve U.S. International Trade in Goods and Services, September 2023. Bureau of Economic Analysis U.S. International Trade in Goods and Services. Census Bureau
