NZDUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.06% | 3.7 Pips |  |
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| Week to-date | 0.06% | 3.8 Pips | |
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| May | 2.27% | 133.6 Pips | |
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Upcoming key events (London Time)
Tue 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Tue 03:00 PM USD Federal Reserve Chair Jerome Powell speech Wed 01:30 PM USD CPI Inflation Rate (12-mth) Wed 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇳🇿 New Zealand RBNZ Inflation Expectations (3-mth) in Q2 dropped to 2.33% compared to previous figure 2.5% in Q1 Source: RBNZ
Latest from X (Twitter)
What can we expect from NZDUSD today?
NZDUSD on Monday rose 0.06% to 0.60217. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60041 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.60307 or trades above daily pivot 0.60174. Break above could target R1 at 0.6035. While to the downside, we are looking at 0.60041 (S1) and daily low of 0.59998 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.60307 may suggest continuation after recent positive movement.
For the week to-date, take note that NZDUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.60659 |
| R2 | 0.60483 |
| R1 | 0.6035 |
| Daily Pivot | 0.60174 |
| S1 | 0.60041 |
| S2 | 0.59865 |
| S3 | 0.59732 |
