NZDUSD on Tuesday dropped -0.31% to 0.61497. Why it matters.

NZDUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday-0.31%-18.9 Pips
Week to-date-0.37%-22.6 Pips
March1.08%65.8 Pips

Upcoming key events (London Time)

Thu 12:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Thu 12:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

No major activities.

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What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.31% to 0.61497. Price is above 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 0.61285 with break below could see further selling pressure towards S2 at 0.61072. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61842 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61351 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:

R30.62267
R20.62054
R10.61776
Daily Pivot0.61563
S10.61285
S20.61072
S30.60794

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