NZDUSD on Monday rose 0.25% to 0.6260. Pair in consolidation. What you need to know before the next trade.

NZDUSD by TradingView

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.25%	15.6 Pips
Week to-date	0.25%	15.6 Pips
February	-2.76%	-177.8 Pips

Upcoming key events (London Time)

Wed 01:00 AM NZD Monetary Policy Statement
Wed 01:00 AM NZD RBNZ Interest Rate Decision
Wed 01:00 AM NZD RBNZ Rate Statement
Wed 02:00 AM NZD RBNZ Press Conference
Wed 07:00 PM USD FOMC Minutes

What happened lately

No major activities.

What can we expect from NZDUSD today?

NZDUSD on Monday rose 0.25% to 0.6260. Price is below 9-Day EMA while Stochastic is rising but in oversold zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.62310 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.6262 or trades above daily pivot 0.62466 while to the downside, the daily low of 0.6218 and 0.62310 (S1) as key support levels. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.6262 would suggest bullish bias after recent positive movement.

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:

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Last updated: 11:35 pm UTC, 20-Feb 2023

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