NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.32% | 19.1 Pips |  |
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| Week to-date | 0.38% | 22.9 Pips | |
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| May | 2.76% | 162 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth) Wed 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇺🇸 U.S. Producer Price Index (1-mth) in April rose to 0.5% compared to previous figure -0.1, revised from 0.2% in March 
🇳🇿 New Zealand RBNZ Inflation Expectations (3-mth) in Q2 dropped to 2.33% compared to previous figure 2.5% in Q1 Source: RBNZ
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What can we expect from NZDUSD today?
NZDUSD on Tuesday rose 0.32% to 0.60414. 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 0.60583 with break above could target R2 at 0.60751 or figure level area. While towards the downside, we are looking at daily low of 0.59932 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.60426 may suggest continuation 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 0.38% over the past few days.
Key levels to watch out:
| R3 | 0.61077 |
| R2 | 0.60751 |
| R1 | 0.60583 |
| Daily Pivot | 0.60257 |
| S1 | 0.60089 |
| S2 | 0.59763 |
| S3 | 0.59595 |
