NZDUSD on Wednesday dropped -0.34% to 0.61150. End January down by -3.18% or -200.8 pips lower. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday-0.34%-20.7 Pips
Week to-date0.42%25.4 Pips
January-3.18%-200.8 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Employment Cost Index in Q4 below forecast and dropped to 0.9% compared to previous figure 1.1% in Q3
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in December exceed forecast and rose to 9.026M compared to previous figure 8.925, revised from 8.79M in November Source: Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in November unchanged at 0.3% compared to previous report in October.

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What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.34% to 0.61150. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.6086 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61735 or trades above daily pivot 0.61298. Break above could target R1 at 0.61587. While to the downside, we are looking at 0.6086 (S1) and daily low of 0.61008 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.61008 would indicate selling pressure.

For the week to-date, take note that NZDUSD is mixed as compared to the prior week.

NZDUSD ended month of January trading session down by -3.18% or -200.8 pips lower.

Key levels to watch out:

R30.62314
R20.62025
R10.61587
Daily Pivot0.61298
S10.6086
S20.60571
S30.60133

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