NZDUSD on Tuesday rose 0.42% to 0.61020. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
Tuesday0.42%25.4 Pips
Week to-date-0.14%-8.5 Pips
January-3.38%-213.6 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized

What happened lately

🇳🇿 New Zealand CPI Inflation Rate (12-mth) in Q4 dropped to 4.7% compared to previous figure 5.6% in Q3 Source: Stats NZ
🇳🇿 New Zealand CPI Inflation Rate (3-mth) in Q4 dropped to 0.5% compared to previous figure 1.8% in Q3 Source: Stats NZ

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What can we expect from NZDUSD today?

NZDUSD on Tuesday rose 0.42% to 0.61020. 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 0.60699 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61169 or trades above daily pivot 0.60934. Break above could target R1 at 0.61255. While to the downside, we are looking at 0.60699 (S1) and daily low of 0.60613 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61169 may suggest continuation after recent positive movement.

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

Key levels to watch out:

Daily Pivot0.60934

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