NZDUSD on Monday dropped -0.52% to 0.59049. What happened.

NZDUSD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	-0.52%	-31.1 Pips
Week to-date	-0.52%	-31.1 Pips
April	-1.21%	-72.3 Pips

Upcoming key events (London Time)

Tue 06:15 PM USD Federal Reserve Chair Jerome Powell speech
Tue 11:45 PM NZD CPI Inflation Rate (3-mth)
Tue 11:45 PM NZD CPI Inflation Rate (12-mth)

What happened lately

🇺🇸 U.S. New York Empire State Manufacturing Index in April improved to -14.3 points compared to previous figure -20.9 points in March
🇺🇸 U.S. Monthly Retail Trade (1-mth) in March dropped to 0.7% compared to previous figure 0.9, revised from 0.6% in February Source: Census Bureau

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What can we expect from NZDUSD today?

NZDUSD on Monday dropped -0.52% to 0.59049. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at S1 0.5884 with break below could see further selling pressure towards S2 at 0.58632. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.59533 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.58978 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.52%.

Key levels to watch out: