NZDUSD on Tuesday dropped -0.06% to 0.58414. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
Tuesday-0.06%-3.5 Pips
Week to-date0.21%12.1 Pips
October-2.06%-123 Pips

Upcoming key events (London Time)

Wed 09:35 PM USD Federal Reserve Chair Jerome Powell speech
Thu 01:30 PM USD GDP Annualized

What happened lately

No major activities.


What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.06% to 0.58414. 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 0.58223 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.58724 or trades above daily pivot 0.58474. Break above could target R1 at 0.58664. While to the downside, we are looking at 0.58223 (S1) and daily low of 0.58283 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.58283 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 Pivot0.58474

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