NZDUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.37% | -22.5 Pips |  |
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| Week to-date | -0.4% | -24.4 Pips |  |
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| July | -0.38% | -23.4 Pips | |
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Upcoming key events (London Time)
Tue 01:30 PM USD Monthly Retail Trade (1-mth)
Tue 11:45 PM NZD CPI Inflation Rate (3-mth)
What happened lately
🇺🇸 U.S. New York Empire State Manufacturing Index in July dropped to -6.6 points compared to previous figure -6 points in June Source: New York Fed
Latest from X (Twitter)
What can we expect from NZDUSD today?
NZDUSD on Monday dropped -0.37% to 0.60758. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at S1 0.60631 with break below could see further selling pressure towards S2 at 0.60503. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61020 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60698 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 | 0.61275 |
| R2 | 0.61147 |
| R1 | 0.60953 |
| Daily Pivot | 0.60825 |
| S1 | 0.60631 |
| S2 | 0.60503 |
| S3 | 0.60309 |
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