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

NZDUSD by TradingView

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:

You might also be interested in:

No major reports.

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

#NZDUSD Trending on Twitter