NZDUSD on Tuesday dropped -0.25% to 0.6336. Pair in consolidation. What you need to know.

NZDUSD on Tuesday dropped -0.25% to 0.6336.  Pair in consolidation. What you need to know.



Tuesday
Open High Low Close
0.63591 0.63899 0.62950 0.63362
Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.25% -15.8 Pips
Week to-date 0.51% 32 Pips
February -1.57% -101.2 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD Retail Sales (MoM)
Wed 01:30 PM USD Retail Sales Control Group

What happened lately

📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (MoM) in January unchanged at 0.4% compared to previous report in December. The actual figure is also in line with the forecast. Source
📆 🇳🇿 NZD RBNZ Inflation Expectations (QoQ) in Q1 dropped to 3.3% compared to previous figure 3.62% in Q4. Source


What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.25% to 0.6336. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62908 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.6390 or trades above daily pivot 0.63404 while to the downside, the daily low of 0.6295 and 0.62908 (S1) as key support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.6295 would indicate selling pressure.

For the week to-date, take note that NZDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 0.64806
R2 0.64353
R1 0.63857
Daily Pivot 0.63404
S1 0.62908
S2 0.62455
S3 0.61959

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Last updated: 11:35 pm UTC, 14-Feb 2023

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