NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.95% | 59.2 Pips |  |
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| Week to-date | 1.05% | 65.1 Pips | |
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| December | 1.92% | 118.3 Pips |  |
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Upcoming key events (London Time)
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What happened lately
🇳🇿 New Zealand Trade Balance NZD (12-mth) in November exceed forecast and improved to -13.87$ compared to previous figure -14.82, revised from -14.81$ in October Source: Stats NZ 🇳🇿 New Zealand Exports in November rose to 5.99$ compared to previous figure 5.37, revised from 5.4$ in October Source: Stats NZ 🇳🇿 New Zealand Imports in November rose to 7.23$ compared to previous figure 7.1, revised from 7.11$ in October Source: Stats NZ
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What can we expect from NZDUSD today?
NZDUSD on Tuesday rose 0.95% to 0.62705. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for NZDUSD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.62915 with break above could target R2 at 0.63124 or figure level area. While towards the downside, we are looking at daily low of 0.62118 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.62726 may suggest continuation after recent positive movement.
For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 1.05% over the past few days.
Key levels to watch out:
| R3 | 0.63523 |
| R2 | 0.63124 |
| R1 | 0.62915 |
| Daily Pivot | 0.62516 |
| S1 | 0.62307 |
| S2 | 0.61908 |
| S3 | 0.61699 |
