NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.32%	-19.4 Pips
Week to-date	-0.45%	-27 Pips
August	-4.06%	-252 Pips

Upcoming key events (London Time)

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

🇺🇸 U.S. Retail Trade Control Group in July rose to 1% compared to previous figure 0.5% (revised from 0.6%) Census Bureau

What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.32% to 0.59550. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.59352 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.59966 or trades above daily pivot 0.59659. Break above could target R1 at 0.59857. While to the downside, we are looking at 0.59352 (S1) and daily low of 0.59461 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.59461 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.45%.

Key levels to watch out:

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Advanced Monthly Sales for Retail and Food Services. Census Bureau