|Performance after Friday|
|Week ending 2022-07-15||-0.52%||-32.3 Pips|
Upcoming key events (London Time)
No further events
What happened lately
📆 🇳🇿 NZD Consumer Price Index (QoQ) in Q2 exceed forecast and dropped to 1.7% compared to previous figure 1.8% in Q1. Source
📆 🇺🇸 USD Retail Sales ex Autos (MoM) in June exceed forecast and rose to 1% compared to previous figure 0.6, revised from 0.5% in May. Source
What can we expect from NZDUSD today?
NZDUSD on Friday rose 0.60% to 0.6159. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for NZDUSD looks bullish as the pair ended higher after Friday trading session.
Looking ahead on Monday, immediate upside resistance level is at 0.61851 (R1) while on the downside, we are looking at daily low of 0.6116 as an important support. Break below this level could weaken the current bullish momentum. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.6177 would suggest bullish bias after recent positive movement.
For the week ending 2022-07-15 take note that NZDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.
Key levels to watch out:
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Advance Monthly Sales for Retail and Food Services Source: Census Bureau
Business Formation Statistics Source: Census Bureau
U.S. import prices increase 0.2% in June on higher fuel prices; export prices rise 0.7% Source: Bureau of Labor Statistics Publications
PPI for final demand advances 1.1% in June; goods rise 2.4%, services increase 0.4% Source: Bureau of Labor Statistics Publications
Last updated: 01:32 am UTC, 18-Jul 2022
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