NZDUSD on Monday dropped -0.42% to 0.62258. What we know.
NZDUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.42% | -26.1 Pips |  | ||
| Week to-date | -0.45% | -28.2 Pips |  | ||
| April | -0.5% | -31 Pips | | ||
Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth) | Mar Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth) | Mar Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
No major activities.
What can we expect from NZDUSD today?
NZDUSD on Monday dropped -0.42% to 0.62258. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at S1 0.61932 with break below could see further selling pressure towards S2 at 0.61606. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.62560 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61920 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:
| R3 | 0.63212 |
| R2 | 0.62886 |
| R1 | 0.62572 |
| Daily Pivot | 0.62246 |
| S1 | 0.61932 |
| S2 | 0.61606 |
| S3 | 0.61292 |
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