NZDUSD on Tuesday rose 0.28% to 0.59346. Why it matters.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.28%	16.6 Pips
Week to-date	0.83%	48.6 Pips
April	-0.71%	-42.4 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized

What happened lately

🇳🇿 New Zealand Exports in March rose to 6.5$ compared to previous figure 5.79, revised from 5.89$ in February Source: Stats NZ
🇳🇿 New Zealand Imports in March dropped to 5.91$ compared to previous figure 6.1, revised from 6.11$ in February Source: Stats NZ
🇳🇿 New Zealand Trade Balance NZD (12-mth) in March improved to -9.87$ compared to previous figure -12.06, revised from -11.99$ in February Source: Stats NZ

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What can we expect from NZDUSD today?

NZDUSD on Tuesday rose 0.28% to 0.59346. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.59543 with break above could target R2 at 0.59739 or figure level area. While towards the downside, we are looking at daily low of 0.59020 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.59478 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is mixed as compared to the prior week.

Key levels to watch out: