NZDUSD on Thursday rose 0.05% to 0.61192. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.05%3.2 Pips
Week to-date-1.91%-119.3 Pips
January-3.12%-196.8 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in January below forecast and improved to -10.6 points compared to previous figure -12.8, revised from -10.5 points in December
🇺🇸 U.S. Industrial Production (1-mth) in December rose to 0.1% compared to previous figure 0.2%
🇺🇸 U.S. Monthly Retail Trade excluding Automobile (1-mth) in December exceed forecast and rose to 0.4% compared to previous figure 0.2% in November

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What can we expect from NZDUSD today?

NZDUSD on Thursday rose 0.05% to 0.61192. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60967 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61358 or trades above daily pivot 0.61163. Break above could target R1 at 0.61387. While to the downside, we are looking at 0.60967 (S1) and daily low of 0.60938 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61358 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.91%.

Key levels to watch out:

R30.61807
R20.61583
R10.61387
Daily Pivot0.61163
S10.60967
S20.60743
S30.60547

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