NZDUSD on Wednesday rose 0.38% to 0.61580. What we know.

NZDUSD Analysis

Performance after Wednesday
Wednesday0.38%23.1 Pips
Week to-date1.3%79 Pips
November6.14%356.4 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Reserve Bank of New Zealand
🇺🇸 U.S. Housing Price Index (1-mth) in September unchanged at 0.6% compared to previous report in August.

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.38% to 0.61580. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

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 0.61995 with break above could target R2 at 0.62409 or figure level area. While towards the downside, we are looking at daily low of 0.61336 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.62080 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 1.3% over the past few days.

Key levels to watch out:

Daily Pivot0.61665

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