NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.54% | -33.5 Pips |  |
||
| Week to-date | -1.22% | -75.7 Pips |  |
||
| December | -0.35% | -21.8 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics 🇺🇸 U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau
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What can we expect from NZDUSD today?
NZDUSD on Tuesday dropped -0.54% to 0.61315. Price is above 9-Day EMA while Stochastic is falling.
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 0.61125 with break below could see further selling pressure towards S2 at 0.60935. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.61741 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61243 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:
| R3 | 0.62121 |
| R2 | 0.61931 |
| R1 | 0.61623 |
| Daily Pivot | 0.61433 |
| S1 | 0.61125 |
| S2 | 0.60935 |
| S3 | 0.60627 |
