NZDUSD on Thursday dropped -0.09% to 0.60870. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.09%	-5.4 Pips
Week to-date	-0.89%	-54.8 Pips
July	-0.21%	-12.9 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 In the week ending 06 July, U.S. Initial Unemployment Insurance Claims dropped to 222K compared to previous figure 239K (revised from 238K) Source: Department of Labor
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in June dropped to 0.1% compared to previous figure 0.2% in May Source: Bureau of Labor Statistics
🇳🇿 New Zealand RBNZ Interest Rate Decision (Official Cash Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Reserve Bank of New Zealand

Latest from X (Twitter)

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What can we expect from NZDUSD today?

NZDUSD on Thursday dropped -0.09% to 0.60870. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60676 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61343 or trades above daily pivot 0.61009. Break above could target R1 at 0.61204. While to the downside, we are looking at 0.60676 (S1) and daily low of 0.60815 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60815 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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