NZDUSD on Thursday rose 0.21% to 0.61923. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.21%13 Pips
Week to-date1.14%70 Pips
February1.23%75.3 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇳🇿 New Zealand Retail Sales excluding motor vehicles (3-mth) in Q4 dropped to -4.1% compared to previous figure 0.4% (revised from 1%)
🇳🇿 New Zealand Retail Trade Turnover (3-mth) in Q4 dropped to -1.9% compared to previous figure -0.8% (revised from 0%) Source: Stats NZ
🇳🇿 New Zealand Imports in January dropped to 5.91$ compared to previous figure 6.22, revised from 6.26$ in December Source: Stats NZ
🇳🇿 New Zealand Trade Balance NZD (12-mth) in January improved to -12.5$ compared to previous figure -13.62, revised from -13.57$ in December Source: Stats NZ
🇳🇿 New Zealand Exports in January dropped to 4.93$ compared to previous figure 5.85, revised from 5.94$ in December Source: Stats NZ

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What can we expect from NZDUSD today?

NZDUSD on Thursday rose 0.21% to 0.61923. 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 0.6173 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62180 or trades above daily pivot 0.61955. Break above could target R1 at 0.62148. While to the downside, we are looking at 0.6173 (S1) and daily low of 0.61762 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62180 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 1.14% over the past few days.

Key levels to watch out:

R30.62566
R20.62373
R10.62148
Daily Pivot0.61955
S10.6173
S20.61537
S30.61312

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