NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -1.18% | -74.7 Pips |  |
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| Week to-date | -1.05% | -66.5 Pips | |
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| January | -1.07% | -67.5 Pips |  |
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Upcoming key events (London Time)
Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
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What can we expect from NZDUSD today?
NZDUSD on Tuesday dropped -1.18% to 0.62493. Price is below 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 0.62242 with break below could see further selling pressure towards S2 at 0.61992. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.63205 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.62473 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.05%.
Key levels to watch out:
| R3 | 0.63706 |
| R2 | 0.63456 |
| R1 | 0.62974 |
| Daily Pivot | 0.62724 |
| S1 | 0.62242 |
| S2 | 0.61992 |
| S3 | 0.6151 |
