NZDUSD on Tuesday dropped -0.49% to 0.61660. What we know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.49%	-30.4 Pips
Week to-date	-1.07%	-67 Pips
June	2.48%	149.4 Pips

Upcoming key events (London Time)

Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies

What happened lately

🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Census Bureau

What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.49% to 0.61660. Price is below 9-Day EMA while Stochastic is falling in overbought 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 0.61312 with break below could see further selling pressure towards S2 at 0.60965. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.62055 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61336 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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New Residential Construction. Census Bureau
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