NZDUSD on Tuesday dropped -0.57% to 0.62492. What we know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.57%	-35.8 Pips
Week to-date	-0.34%	-21.4 Pips
May	1.07%	66.2 Pips

Upcoming key events (London Time)

Tue 11:45 PM NZD Retail Trade Turnover (3-mth)
Wed 03:00 AM NZD Monetary Policy Statement
Wed 03:00 AM NZD RBNZ Interest Rate Decision (Official Cash Rate)
Wed 03:00 AM NZD RBNZ Official Cash Rate Statement
Wed 04:00 AM NZD RBNZ Press Conference
Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:30 PM USD GDP Annualized

What happened lately

🇺🇸 New Residential Sales (1-mth) in April exceed forecast and rose to 0.683M compared to previous figure 0.656, revised from 0.683M in March Census Bureau

What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.57% to 0.62492. Price is below 9-Day EMA while Stochastic is rising.

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 0.622 with break below could see further selling pressure towards S2 at 0.61908. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.63024 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.62320 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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