NZDUSD on Tuesday dropped -0.01% to 0.61322. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday-0.01%-0.4 Pips
Week to-date0.7%42.6 Pips
January-2.91%-183.9 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in December exceed forecast and rose to 9.026M compared to previous figure 8.925, revised from 8.79M in November Source: Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in November unchanged at 0.3% compared to previous report in October.

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What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.01% to 0.61322. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61082 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61493 or trades above daily pivot 0.61288. Break above could target R1 at 0.61527. While to the downside, we are looking at 0.61082 (S1) and daily low of 0.61048 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.61048 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:

R30.61972
R20.61733
R10.61527
Daily Pivot0.61288
S10.61082
S20.60843
S30.60637

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