NZDUSD on Tuesday rose 0.26% to 0.61649. What we know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.26%	16 Pips
Week to-date	0.7%	42.6 Pips
February	0.8%	48.8 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes
Thu 09:45 PM NZD Retail Trade Turnover (3-mth)

What happened lately

🇳🇿 New Zealand Producer Price Index – Output (3-mth) in Q4 dropped to 0.7% compared to previous figure 0.8% in Q3

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What can we expect from NZDUSD today?

NZDUSD on Tuesday rose 0.26% to 0.61649. 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 0.61944 with break above could target R2 at 0.62239 or figure level area. While towards the downside, we are looking at daily low of 0.61284 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.61909 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 0.7% over the past few days.

Key levels to watch out: