NZDUSD on Thursday dropped -0.25% to 0.59852. What we know.

NZDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.25%	-15 Pips
Week to-date	-0.16%	-9.7 Pips
August	0.56%	33.4 Pips

Upcoming key events (London Time)

Fri 01:45 AM NZD RBNZ’s Governor Adrian Orr speech

What happened lately

New Zealand’s Producer Price Index – Output (3-mth) in Q2 rose to 1.1% compared to 0.9% in Q1.
🇺🇸 U.S. Industrial Production (1-mth) in July decreased to -0.6% from 0.6% in June.
🇺🇸 U.S. Monthly Retail Trade (1-mth) in July rose to 1% from 0% in June. Source: Census Bureau
🇺🇸 In the week ending 10 August, U.S. Initial Unemployment Insurance Claims dropped to 227K compared to previous figure 234K (revised from 233K) Source: Department of Labor
🇺🇸 U.S. Retail Trade Control Group in July dropped to 0.3%, down from 0.9% in June. Source: Census Bureau
🇺🇸 U.S. CPI Inflation Rate (1-mth) increased to 0.2% in July from -0.1% in June. Source: Bureau of Labor Statistics
The U.S. CPI Inflation Rate excluding Food and Energy sectors increased to 0.2% in July from 0.1% in June. Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in July dropped to 3.2%, down from 3.3% in June. Source: Bureau of Labor Statistics
🇺🇸 The U.S. CPI inflation rate for July dropped to 2.9% from the previous figure of 3% in June. Source: Bureau of Labor Statistics
🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) below forecast and dropped to 5.25% 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 -0.25% to 0.59852. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 0.59677 with break below could see further selling pressure towards S2 at 0.59501. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60150 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.59738 would indicate selling pressure.

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

Key levels to watch out:

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