NZDUSD on Monday dropped -0.11% to 0.59756. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Monday
Monday-0.11%-6.4 Pips
Week to-date-0.11%-6.4 Pips
August-3.73%-231.4 Pips

Upcoming key events (London Time)

Tue 01:30 PM USD Monthly Retail Trade (1-mth)
Wed 03:00 AM NZD Monetary Policy Statement
Wed 03:00 AM NZD RBNZ Interest Rate Decision (Official Cash Rate)
Wed 03:00 AM NZD RBNZ Official Cash Rate Statement
Wed 04:00 AM NZD RBNZ Press Conference
Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

NZDUSD 4-hour Chart by TradingView

What can we expect from NZDUSD today?

NZDUSD on Monday dropped -0.11% to 0.59756. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.59493 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.59900 or trades above daily pivot 0.59697. Break above could target R1 at 0.59959. While to the downside, we are looking at 0.59493 (S1) and daily low of 0.59434 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.59434 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:

Daily Pivot0.59697

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