NZDUSD on Tuesday dropped -0.16% to 0.62009. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.16%	-9.8 Pips
Week to-date	-0.13%	-8.1 Pips
July	1.09%	67.1 Pips

Upcoming key events (London Time)

Wed 03:00 AM NZD Monetary Policy Statement
Wed 03:00 AM NZD RBNZ Interest Rate Decision (Official Cash Rate)
Wed 03:00 AM NZD RBNZ Official Cash Rate Statement
Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (1-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (12-mth)
Thu 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)

What happened lately

No major activities.

What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.16% to 0.62009. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61701 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62246 or trades above daily pivot 0.61973. Break above could target R1 at 0.62282. While to the downside, we are looking at 0.61701 (S1) and daily low of 0.61665 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.61665 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:

You might be interested in:

Monthly Wholesale Trade: Sales and Inventories. Census Bureau
New Foreign Direct Investment in the United States, 2022. Bureau of Economic Analysis