NZDUSD on Wednesday rose 0.85% to 0.59541. End July down by -2.38% or -145.1 pips lower. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.85%	49.9 Pips
Week to-date	1.11%	65.1 Pips
July	-2.38%	-145.1 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Average Hourly Earnings (12-mth)

What happened lately

🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 The U.S. Employment Cost Index (ECI) in Q2 decreased to 0.9% from the previous figure of 1.2% in Q1. Source: Bureau of Labor Statistics
New Zealand’s seasonally adjusted building permits for June fell to -13.8% from the revised figure of -1.9% in May (originally -1.7%). Source: Stats NZ
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in June dropped to 8.184M compared to the previous figure of 8.23M, revised from 8.14M in May. Source: Bureau of Labor Statistics
🇺🇸 U.S. House Price Index (1-mth) in May dropped to 0% from a revised figure of 0.3% in April. Source: FHFA

Latest from X (Twitter)

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What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.85% to 0.59541. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.59813 with break above could target R2 at 0.60085 or figure level area. While towards the downside, we are looking at daily low of 0.58873 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.59615 may suggest continuation after recent positive movement.

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

NZDUSD ended month of July trading session down by -2.38% or -145.1 pips lower.

Key levels to watch out:

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