NZDUSD on Tuesday dropped -0.69% to 0.60585. What we know.
NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.69% | -41.9 Pips |  | ||
| Week to-date | -0.61% | -37.4 Pips | | ||
| August | -2.4% | -148.8 Pips |  | ||
Upcoming key events (London Time)
Wed 04:00 AM NZD RBNZ Inflation Expectations (3-mth)
Thu 01:30 PM USD CPI Inflation Rate (1-mth) Thu 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
No major activities.
What can we expect from NZDUSD today?
NZDUSD on Tuesday dropped -0.69% to 0.60585. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for NZDUSD looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at S1 0.60257 with break below could see further selling pressure towards S2 at 0.59928. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61080 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60340 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.61%.
Key levels to watch out:
| R3 | 0.61737 |
| R2 | 0.61408 |
| R1 | 0.60997 |
| Daily Pivot | 0.60668 |
| S1 | 0.60257 |
| S2 | 0.59928 |
| S3 | 0.59517 |
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