NZDUSD on Tuesday dropped -1.13% to 0.60604. What we know.

NZDUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday-1.13%-69.2 Pips
Week to-date-1.4%-86.1 Pips
February-0.93%-56.8 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics
🇳🇿 New Zealand RBNZ Inflation Expectations (3-mth) in Q1 rose to 3.22% compared to previous figure 2.76% in Q4 Source: RBNZ
🇺🇸 U.S. Monthly Budget Statement in January improved to -22$ compared to previous figure -129$ in December Source: Bureau of the Fiscal Service

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What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -1.13% to 0.60604. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 0.60301 with break below could see further selling pressure towards S2 at 0.59997. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61290 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60492 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:

R30.61897
R20.61593
R10.61099
Daily Pivot0.60795
S10.60301
S20.59997
S30.59503

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