NZDUSD on Wednesday rose 0.6% to 0.60893. What we know.

NZDUSD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.6%36.5 Pips
Week to-date0.15%9.3 Pips
March0.05%2.8 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇳🇿 New Zealand GDP (3-mth) in Q4 improved to -0.1% compared to previous figure -0.3% in Q3 Source: Stats NZ
🇳🇿 New Zealand GDP (12-mth) in Q4 improved to -0.3% compared to previous figure -0.6% in Q3 Source: Stats NZ
🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.1% compared to previous rate 3.6%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections – Longer rose to 2.6% compared to previous rate 2.5%
🇺🇸 U.S. Interest Rate Projections – 1st year below forecast and dropped to 3.9% compared to previous rate 4.6%
🇺🇸 U.S. Interest Rate Projections dropped to 4.6% compared to previous rate 5.4%
🇺🇸 U.S. Building Permits (1-mth) in February rose to 1.518M compared to previous figure 1.489, revised from 1.47M in January Source: Census Bureau

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.6% to 0.60893. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for NZDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.61132 with break above could target R2 at 0.61371 or figure level area. While towards the downside, we are looking at daily low of 0.60240 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.60925 may suggest continuation after recent positive movement.

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

Key levels to watch out:

R30.61817
R20.61371
R10.61132
Daily Pivot0.60686
S10.60447
S20.60001
S30.59762

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