NZDUSD on Tuesday rose 0.01% to 0.61732. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
Tuesday0.01%0.8 Pips
Week to-date-0.22%-13.7 Pips
February1%61.3 Pips

Upcoming key events (London Time)

Wed 01:00 AM NZD RBNZ Interest Rate Decision (Official Cash Rate)
Wed 01:30 PM USD GDP Annualized
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau

Latest from X (Twitter)

What can we expect from NZDUSD today?

NZDUSD on Tuesday rose 0.01% to 0.61732. 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 0.61566 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61780 or trades above daily pivot 0.61673. Break above could target R1 at 0.61839. While to the downside, we are looking at 0.61566 (S1) and daily low of 0.61507 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61780 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 Pivot0.61673

Leave a comment

Your email address will not be published. Required fields are marked *