NZDUSD on Tuesday rose 0.27% to 0.62350. Pair in consolidation. What we know.

NZDUSD on Tuesday rose 0.27% to 0.62350. Pair in consolidation. What we know.

Open High Low Close
0.62240 0.62490 0.62000 0.62350

Performance after Tuesday
Period Pct Chg Momentum
Tuesday 0.27% 17 Pips
Week to-date 1.74% 107 Pips
March -2.99% -192.5 Pips

Upcoming key events (London Time)

Wed 12:30 PM USD Retail Sales (1-mth)
Wed 12:30 PM USD Retail Control Group
Wed 09:45 PM NZD GDP (3-mth)

What happened lately

📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source

What can we expect from NZDUSD today?

NZDUSD on Tuesday rose 0.27% to 0.62350. Price is above 9-Day EMA while Stochastic is rising in neutral zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.6207 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.62490 or trades above daily pivot 0.6228. While to the downside, the daily low of 0.62000 and 0.6207 (S1) as immediate support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.62490 would suggest bullish bias after recent positive movement.

For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 1.74% over the past few days.

Key levels to watch out:

R3 0.6305
R2 0.6277
R1 0.6256
Daily Pivot 0.6228
S1 0.6207
S2 0.6179
S3 0.6158

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