NZDUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.32% | 19.7 Pips |  |
||
| Week to-date | -0.26% | -16 Pips |  |
||
| July | -0.26% | -16 Pips | |
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Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
🇳🇿 New Zealand Building Permits seasonal adjustment. (1-mth) in May improved to -1.7% compared to previous figure -2.1, revised from -1.9% in April Source: Stats NZ 🇳🇿 New Zealand NZIER Business Confidence (3-mth) in Q2 dropped to -44% compared to previous figure -25% in Q1 Source: NZIER
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What can we expect from NZDUSD today?
NZDUSD on Tuesday rose 0.32% to 0.60832. Price is below 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 0.60958 with break above could target R2 at 0.61084 or figure level area. While towards the downside, we are looking at daily low of 0.60470 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.60840 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:
| R3 | 0.61328 |
| R2 | 0.61084 |
| R1 | 0.60958 |
| Daily Pivot | 0.60714 |
| S1 | 0.60588 |
| S2 | 0.60344 |
| S3 | 0.60218 |
