NZDUSD on Thursday rose 0.01% to 0.61558. End November up by 6.11% or 354.4 pips higher. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.01%0.5 Pips
Week to-date1.26%76.8 Pips
November6.11%354.4 Pips

Upcoming key events (London Time)

Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇳🇿 New Zealand ANZ – Roy Morgan Consumer Confidence in November rose to 91.9 points compared to previous figure 88.1 points in October
🇺🇸 U.S. Personal Spending in October dropped to 0.2% compared to previous figure 0.7% in September Source: Bureau of Economic Analysis
🇺🇸 In the week ending 25 November, U.S. Initial Unemployment Insurance Claims rose to 218K compared to previous figure 211K (revised from 209K) Source: Department of Labor
🇳🇿 New Zealand Building Permits seasonal adjustment. (1-mth) in October exceed forecast and rose to 8.7% compared to previous figure -4.6, revised from -4.7% in September Source: Stats NZ
🇳🇿 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

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What can we expect from NZDUSD today?

NZDUSD on Thursday rose 0.01% to 0.61558. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61233 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61820 or trades above daily pivot 0.61527. Break above could target R1 at 0.61851. While to the downside, we are looking at 0.61233 (S1) and daily low of 0.61202 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61820 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 1.26% over the past few days.

NZDUSD ended month of November trading session up by 6.11% or 354.4 pips higher.

Key levels to watch out:

R30.62469
R20.62145
R10.61851
Daily Pivot0.61527
S10.61233
S20.60909
S30.60615

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