NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.13% | -7.6 Pips |  |
||
| Week to-date | -0.05% | -3 Pips | |
||
| May | -2.23% | -138 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
USD Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%). 
🇳🇿 Building Permits seasonal adjustment. (1-mth) in April below forecast and dropped to -2.6% compared to previous figure 7% in March Stats NZ
What can we expect from NZDUSD today?
NZDUSD on Tuesday dropped -0.13% to 0.60450. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60232 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.60664 or trades above daily pivot 0.60448. Break above could target R1 at 0.60666. While to the downside, we are looking at 0.60232 (S1) and daily low of 0.60230 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60230 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 | 0.611 |
| R2 | 0.60882 |
| R1 | 0.60666 |
| Daily Pivot | 0.60448 |
| S1 | 0.60232 |
| S2 | 0.60014 |
| S3 | 0.59798 |
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Minutes of the Board’s discount rate meetings from April 10 through May 3, 2023. Federal Reserve
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