NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.18% | -10.4 Pips |  |
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| Week to-date | -0.76% | -45.1 Pips | |
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| April | -1.44% | -86.1 Pips |  |
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Upcoming key events (London Time)
Tue 11:45 PM NZD CPI Inflation Rate (3-mth) Tue 11:45 PM NZD CPI Inflation Rate (12-mth)
What happened lately
🇳🇿 New Zealand CPI Inflation Rate (12-mth) in Q1 dropped to 3.7% compared to previous figure 4.7% in Q4 Source: Stats NZ
🇺🇸 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
Latest from X (Twitter)
What can we expect from NZDUSD today?
NZDUSD on Tuesday dropped -0.18% to 0.58909. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for NZDUSD looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at S1 0.58643 with break below could see further selling pressure towards S2 at 0.58377. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.59071 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.58591 would indicate selling pressure.
For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.76%.
Key levels to watch out:
| R3 | 0.59603 |
| R2 | 0.59337 |
| R1 | 0.59123 |
| Daily Pivot | 0.58857 |
| S1 | 0.58643 |
| S2 | 0.58377 |
| S3 | 0.58163 |
