NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.1% | -6.3 Pips |  |
||
| Week to-date | 0.11% | 7 Pips |  |
||
| June | 0.03% | 1.7 Pips | |
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What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in April rose to 0.2% compared to previous figure 0.1% in March
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What can we expect from NZDUSD today?
NZDUSD on Tuesday dropped -0.1% to 0.61182. 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 0.61068 with break below could see further selling pressure towards S2 at 0.60954. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61304 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61072 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 | 0.61532 |
| R2 | 0.61418 |
| R1 | 0.613 |
| Daily Pivot | 0.61186 |
| S1 | 0.61068 |
| S2 | 0.60954 |
| S3 | 0.60836 |
