Forex

NZDUSD on Tuesday dropped -0.3% to 0.59459. Pair in consolidation. What we know.

NZDUSD on Tuesday dropped -0.3% to 0.59459. Pair in consolidation. What we know.
NZDUSD on Tuesday dropped -0.3% to 0.59459.  Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.3% -18.1 Pips
Week to-date -0.22% -13.1 Pips
September -0.31% -18.7 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Thu 09:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

?? U.S. New-Home Sales Change (1-mth) in August below forecast and dropped to -8.7% compared to previous figure 4.4% in July
?? U.S. Housing Price Index (1-mth) in July exceed forecast and rose to 0.8% compared to previous figure 0.4, revised from 0.3% in June


What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.3% to 0.59459. 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 0.59298 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.59735 or trades above daily pivot 0.59517. Break above could target R1 at 0.59677. While to the downside, we are looking at 0.59298 (S1) and daily low of 0.59356 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.59356 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:

R3 0.60056
R2 0.59896
R1 0.59677
Daily Pivot 0.59517
S1 0.59298
S2 0.59138
S3 0.58919

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