NZDUSD declines by 0.95% amid selling pressure
NZDUSD Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.9516% | -56.0 Pips | ▼ |
| Week to-date | -0.8336% | -49.0 Pips | ▼ |
| April | 1.4621% | 84.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 08:30 PM | USD | HIGH | PCE Price Index, excluding food and energy (1-mth) |
| Thu 08:30 PM | USD | HIGH | PCE Price Index, excluding food and energy (12-mth) |
| Thu 08:30 PM | USD | HIGH | GDP annual rate |
| Thu 08:30 PM | USD | HIGH | GDP Price Index (Quarterly) |
What can we expect from NZDUSD today?
As we look at the NZDUSD pair today, the outlook remains bearish following a daily performance decline of -0.9516% and a close at 0.58290. Traders should be cautious as the pair continues to trade below its 9-day EMA, suggesting further downside potential.
📈 Bull Scenario For a bullish scenario to unfold, NZDUSD would need to break above the daily pivot at 0.58447, with further momentum potentially pushing it towards the first resistance level at 0.58764. A sustained move above R1 could see the pair testing the second resistance level at 0.59237, indicating a reversal in the current bearish trend. | 📉 Bear Scenario On the downside, a continuation of the bearish trend could be triggered if NZDUSD falls below the first support level at 0.57974. Should the pair breach this level, traders should watch for a move towards the second support level at 0.57657, which would reinforce the bearish weekly outlook and potentially lead to further declines. |
Key levels to watch out:
| R3 | 0.59554 |
| R2 | 0.59237 |
| R1 | 0.58764 |
| Daily Pivot | 0.58447 |
| S1 | 0.57974 |
| S2 | 0.57657 |
| S3 | 0.57184 |
