NZDUSD on Tuesday dropped -0.51% to 0.58111. End October down by -3.09% or -185.2 pips lower. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
Tuesday-0.51%-29.6 Pips
Week to-date0.07%4.2 Pips
October-3.09%-185.2 Pips

Upcoming key events (London Time)

Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 06:00 PM USD FOMC Monetary Policy Statement

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in August exceed forecast and dropped to 0.6% compared to previous figure 0.8% in July
🇺🇸 U.S. Employment Cost Index in Q3 exceed forecast and rose to 1.1% compared to previous figure 1% in Q2
🇳🇿 New Zealand Building Permits seasonal adjustment. (1-mth) in September below forecast and improved to -4.7% compared to previous figure -7, revised from -6.7% in August Stats NZ


What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.51% to 0.58111. 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 0.5784 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.58571 or trades above daily pivot 0.58205. Break above could target R1 at 0.58477. While to the downside, we are looking at 0.5784 (S1) and daily low of 0.57934 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.57934 would indicate selling pressure.

For the week to-date, take note that NZDUSD is mixed as compared to the prior week.

NZDUSD ended month of October trading session down by -3.09% or -185.2 pips lower.

Key levels to watch out:

Daily Pivot0.58205

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