NZDUSD on Thursday dropped -0.17% to 0.60867. End February down by -0.5% or -30.4 pips lower. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Thursday
Thursday-0.17%-10.3 Pips
Week to-date-1.76%-109 Pips
February-0.5%-30.4 Pips

Upcoming key events (London Time)

Fri 12:00 AM NZD RBNZ’s Governor Adrian Orr speech

What happened lately

🇺🇸 U.S. Personal Consumption Expenditures – Price Index (1-mth) in January rose to 0.3% compared to previous figure 0.2% in December
🇺🇸 U.S. Personal Income (1-mth) in January rose to 1% compared to previous figure 0.3% in December Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇳🇿 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 dropped -0.17% to 0.60867. 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 0.60715 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61116 or trades above daily pivot 0.60916. Break above could target R1 at 0.61067. While to the downside, we are looking at 0.60715 (S1) and daily low of 0.60764 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60764 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.76%.

NZDUSD ended month of February trading session down by -0.5% or -30.4 pips lower.

Key levels to watch out:

Daily Pivot0.60916

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