NZDUSD on Thursday dropped -0.93% to 0.59665. Things to look out.

NZDUSD Analysis

Performance after Thursday
Thursday-0.93%-56.1 Pips
Week to-date1.34%78.7 Pips
November2.83%163.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in October dropped to -0.6% compared to previous figure 0.1% (revised from 0.3%)
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in November below forecast and improved to -5.9 points compared to previous figure -9 points in October
🇺🇸 U.S. New York Empire State Manufacturing Index in November exceed forecast and rose to 9.1 points compared to previous figure -4.6 points in October
🇺🇸 U.S. Producer Price Index (12-mth) in October below forecast and dropped to 1.3% compared to previous figure 2.2% in September

Latest from X (Twitter)

What can we expect from NZDUSD today?

NZDUSD on Thursday dropped -0.93% to 0.59665. Price is above 9-Day EMA while Stochastic is rising.

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 0.59427 with break below could see further selling pressure towards S2 at 0.59188. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60298 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.59624 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:

Daily Pivot0.59862

You might be interested in:

Manufacturing and Trade Inventories and Sales. Census Bureau
Advance Monthly Sales for Retail and Food Services. Census Bureau
October electronic card spending in the retail industries decreased by 0.7 percent ($44 million). Stats NZ
CPI for all items unchanged in October; shelter up. Bureau of Labor Statistics

Leave a comment

Your email address will not be published.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