NZDUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.6% | -36.6 Pips |  |
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| Week to-date | -0.56% | -34 Pips |  |
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| July | -0.56% | -34 Pips | |
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Upcoming key events (London Time)
Tue 02:30 PM USD Federal Reserve Chair Jerome Powell speech Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
🇳🇿 New Zealand Building Permits seasonal adjustment. (1-mth) in May improved to -1.7% compared to previous figure -2.1, revised from -1.9% in April Source: Stats NZ 🇳🇿 New Zealand NZIER Business Confidence (3-mth) in Q2 dropped to -44% compared to previous figure -25% in Q1 Source: NZIER
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What can we expect from NZDUSD today?
NZDUSD on Monday dropped -0.6% to 0.60662. 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 0.60514 with break below could see further selling pressure towards S2 at 0.60367. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61075 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60647 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 | 0.6137 |
| R2 | 0.61223 |
| R1 | 0.60942 |
| Daily Pivot | 0.60795 |
| S1 | 0.60514 |
| S2 | 0.60367 |
| S3 | 0.60086 |
