FxWirePro: NZD/USD Daily Outlook

Chart - Courtesy Trading View 

NZD/USD was trading 0.07% higher on the day at 0.6141 at around 08:00 GMT.

The pair is struggling to break past 21-EMA resistance and remains capped below from the past few trading sessions.

Price action remains rangebound ahead of the release of key US inflation figures, while improved sentiment surrounding the risk-associated assets keeps downside in check.

Analysts expect US headline consumer prices to have eased to 8.1% over the last twelve months (from 8.5%).

On the otherside, New Zealand GDP is expected to display a mixed performance. Annual GDP is expected to slip by 0.2% against an expansion of 1.2%. While the quarterly data will result in an expansion of 0.8% vs. a contraction of 0.2%.

Price action is above 200H MA, GMMA indicator shows major and minor trend have turned bullish on the intraday charts.

5-DMA has turned and Stochs show bullish rollover from oversold levels. Decisive break above 21-EMA will propel the pair higher. Next major bull target lies at 50-DMA at 0.62