NZDUSD on Thursday rose 0.47% to 0.60492. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.47%28 Pips
Week to-date1.07%63.8 Pips
November4.27%247.6 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇳🇿 New Zealand Retail Sales excluding motor vehicles (3-mth) in Q3 rose to 1% compared to previous figure -1.6% (revised from -1.8%)
🇳🇿 New Zealand Retail Trade Turnover (3-mth) in Q3 exceed forecast and rose to 0% compared to previous figure -1% in Q2 Stats NZ
🇺🇸 U.S. Michigan Index of Consumer Sentiment in November exceed forecast and rose to 61.3 points compared to previous figure 60.4 points in October University of Michigan
🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November unchanged at 3.2% compared to previous report in October. The actual figure is also in line with the forecast University of Michigan
🇺🇸 U.S. Durable Goods Orders in October exceed forecast and dropped to -5.4% compared to previous figure 4.6, revised from 4.7% in September Census Bureau

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What can we expect from NZDUSD today?

NZDUSD on Thursday rose 0.47% to 0.60492. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.6024 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.60661 or trades above daily pivot 0.6045. Break above could target R1 at 0.60703. While to the downside, we are looking at 0.6024 (S1) and daily low of 0.60198 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.60661 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:

R30.61166
R20.60913
R10.60703
Daily Pivot0.6045
S10.6024
S20.59987
S30.59777

You might be interested in:

Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve

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