NZDUSD on Wednesday dropped -0.04% to 0.62487. Pair in consolidation. What is going on.

NZDUSD Analysis

Performance after Wednesday
Wednesday-0.04%-2.3 Pips
Week to-date-1.06%-67.1 Pips
January-1.06%-67.2 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in November below forecast and dropped to 8.79M compared to previous figure 8.852, revised from 8.733M in October Source: Bureau of Labor Statistics

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What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.04% to 0.62487. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62194 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62758 or trades above daily pivot 0.62476. Break above could target R1 at 0.62769. While to the downside, we are looking at 0.62194 (S1) and daily low of 0.62183 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.62183 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.06%.

Key levels to watch out:

Daily Pivot0.62476

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