NZDUSD on Monday dropped -0.67% to 0.61655. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Monday
Monday-0.67%-41.7 Pips
Week to-date-0.67%-41.7 Pips
December0.21%13 Pips

Upcoming key events (London Time)

Tue 03:00 PM USD ISM Services PMI

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau

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What can we expect from NZDUSD today?

NZDUSD on Monday dropped -0.67% to 0.61655. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61367 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62223 or trades above daily pivot 0.61795. Break above could target R1 at 0.62083. While to the downside, we are looking at 0.61367 (S1) and daily low of 0.61507 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.61507 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 Pivot0.61795

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