NZDUSD on Tuesday dropped -0.59% to 0.60596. What we know.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.59%	-35.9 Pips
Week to-date	-0.59%	-35.9 Pips
July	-0.65%	-39.6 Pips

Upcoming key events (London Time)

Tue 11:45 PM NZD CPI Inflation Rate (3-mth)

What happened lately

🇺🇸 U.S. Retail Trade Control Group in June rose to 0.9% compared to previous figure 0.4% in May Source: Census Bureau

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What can we expect from NZDUSD today?

NZDUSD on Tuesday dropped -0.59% to 0.60596. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for NZDUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 0.60365 with break below could see further selling pressure towards S2 at 0.60134. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.60763 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.60333 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -0.59%.

Key levels to watch out:

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