NZDUSD on Wednesday dropped -0.04% to 0.62493. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.04%	-2.3 Pips
Week to-date	0.4%	25.2 Pips
August	5%	297.5 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP annual rate
Fri 01:30 PM USD PCE Price Index (excluding food and energy) (1-mth)
Fri 01:30 PM USD PCE Price Index (excluding food and energy) (12-mth)

What happened lately

🇺🇸 U.S. House Price Index (1-mth) in June dropped to -0.1% from 0% in May. Source: FHFA

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What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.04% to 0.62493. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62309 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62526 or trades above daily pivot 0.62418. Break above could target R1 at 0.62601. While to the downside, we are looking at 0.62309 (S1) and daily low of 0.62234 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.62234 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 0.4% over the past few days.

Key levels to watch out:

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