• Sat. Jun 15th, 2024

NZDUSD on Monday dropped -0.41% to 0.61078. Pair in consolidation. What is going on.

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Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

NZDUSD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday -0.41% -25.2 Pips
Week to-date -0.41% -25.2 Pips
May 3.73% 219.8 Pips

Upcoming key events (London Time)

  Wed 03:00 AM NZD RBNZ Interest Rate Decision (Official Cash Rate)
  Wed 04:00 AM NZD RBNZ Press Conference
  Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

What can we expect from NZDUSD today?

NZDUSD on Monday dropped -0.41% to 0.61078. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.60901 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.61370 or trades above daily pivot 0.61135. Break above could target R1 at 0.61313. While to the downside, we are looking at 0.60901 (S1) and daily low of 0.60958 as support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.60958 would indicate selling pressure.

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

Key levels to watch out:

R3 0.61725
R2 0.61547
R1 0.61313
Daily Pivot 0.61135
S1 0.60901
S2 0.60723
S3 0.60489
On Key

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