NZDUSD on Tuesday dropped -0.85% to 0.61936. What we know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.85%	-53.4 Pips
Week to-date	-1.16%	-73 Pips
March	0.13%	7.9 Pips

Upcoming key events (London Time)

Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:30 PM USD FOMC Press Conference

What happened lately

No major activities.

What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.85% to 0.61936. Price is in neutral at 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 0.61572 (S1) with break below could see further selling pressure towards 0.61207 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.62457 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.61650 would indicate selling pressure.

For the week to-date, take note that NZDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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