NZDUSD on Tuesday dropped -0.17% to 0.62277. Pair in consolidation. What we know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.17%	-10.3 Pips
Week to-date	0.63%	38.7 Pips
May	0.72%	44.7 Pips

Upcoming key events (London Time)

Thu 03:00 AM NZD Budget Release

What happened lately

🇺🇸 Retail Trade Control Group in April rose to 0.7% compared to previous figure -0.4, revised from -0.3% in March Census Bureau

What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.17% to 0.62277. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62126 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62596 or trades above daily pivot 0.62361. Break above could target R1 at 0.62512. While to the downside, we are looking at 0.62126 (S1) and daily low of 0.62210 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.62210 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:

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Advanced Monthly Sales for Retail and Food Services. Census Bureau

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