NZDUSD on Monday dropped 0.00% to 0.6163. Pair in consolidation. What you need to know before the next trade.

NZDUSD by TradingView

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.00%	0.1 Pips
Week to-date	-0.09%	-5.6 Pips
February	-4.26%	-274.4 Pips

Upcoming key events (London Time)

Wed 03:00 PM USD ISM Manufacturing PMI

What happened lately

📆 🇺🇸 USD Pending Home Sales (MoM) in January exceed forecast and rose to 8.1% compared to previous figure 1.1, revised from 2.5% in December. Source
📆 ☢️ 🇺🇸 USD Durable Goods Orders in January exceed forecast and dropped to -4.5% compared to previous figure 5.1, revised from 5.6% in December. Source
📆 🇳🇿 NZD Retail Sales ex Autos (QoQ) in Q4 below forecast and dropped to -1.3% compared to previous figure 0.4% in Q3. Source
📆 ☢️ 🇳🇿 NZD Retail Sales (QoQ) in Q4 below forecast and dropped to -0.6% compared to previous figure 0.4% in Q3. Source

What can we expect from NZDUSD today?

NZDUSD on Monday dropped 0.00% to 0.6163. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.

Updated daily direction for NZDUSD looks mixed as the pair is likely to consolidate above 0.61341 (S1).

Looking ahead today, we are looking at 0.6244 or 0.61859 (R1) as important resistance level while to the downside, the daily low of 0.6128 and 0.61341 (S1) as key support levels. NZDUSD need to break on either side to indicate a short-term bias. A close below 0.6128 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:

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Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

Last updated: 11:35 pm UTC, 27-Feb 2023

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