NZDUSD on Wednesday rose 0.20% to 0.6224. Pair in consolidation. What you need to know before the next trade.

NZDUSD by TradingView

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.20%	12.2 Pips
Week to-date	-0.32%	-19.9 Pips
February	-3.31%	-213.3 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Gross Domestic Product Annualized

What happened lately

📆 ☢️ 🇳🇿 NZD RBNZ Interest Rate Decision rose to 4.75% compared to previous rate 4.25%. Source
📆 🇺🇸 USD S&P Global Composite PMI in February preliminary estimate exceed forecast and rose to 50.2 points compared to previous figure 46.8 points in January. Source
📆 🇺🇸 USD S&P Global Services PMI in February preliminary estimate exceed forecast and rose to 50.5 points compared to previous figure 46.8 points in January. Source

What can we expect from NZDUSD today?

NZDUSD on Wednesday rose 0.20% to 0.6224. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62013 (S1).

Looking ahead today, we are looking at 0.6261 or 0.62492 (R1) as important resistance level while to the downside, the daily low of 0.6204 and 0.62013 (S1) as key support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.6252 would suggest bullish bias after recent positive movement.

For the week to-date, take note that NZDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

You might also be interested in:

Minutes of the Federal Open Market Committee, January 31–February 1, 2023 Source: Federal Reserve
Reserve Bank increases the Official Cash Rate Source: RBNZ

Last updated: 11:35 pm UTC, 22-Feb 2023

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