NZDUSD on Tuesday dropped -0.56% to 0.60496. What you need to know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.56%	-34.3 Pips
Week to-date	-0.5%	-30.4 Pips
March	-0.61%	-37.3 Pips

Upcoming key events (London Time)

Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:00 PM USD FOMC Economic Projections
Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 09:45 PM NZD GDP (12-mth)
Wed 09:45 PM NZD GDP (3-mth)

What happened lately

🇺🇸 U.S. Building Permits (1-mth) in February rose to 1.518M compared to previous figure 1.489, revised from 1.47M in January Source: Census Bureau

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What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.56% to 0.60496. 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 0.60279 with break below could see further selling pressure towards S2 at 0.60062. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60827 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60336 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.5%.

Key levels to watch out: