NZDUSD on Wednesday dropped -0.35% to 0.59264. What we know.

NZDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.35%	-20.7 Pips
Week to-date	-1.62%	-97.8 Pips
July	-2.83%	-172.8 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP annual rate
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. New-Home Sales Change (1-mth) in June improved to -0.6% from a revised -14.9% in May.

Latest from X (Twitter)

Tweets by Stats NZ

What can we expect from NZDUSD today?

NZDUSD on Wednesday dropped -0.35% to 0.59264. Price is below 9-Day EMA while Stochastic is falling.

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

Looking ahead for the day, immediate support level is at S1 0.59087 with break below could see further selling pressure towards S2 at 0.58909. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.59530 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.59131 would indicate selling pressure.

For the week to-date, take note that NZDUSD is bearish as the pair posted lower by -1.62%.

Key levels to watch out:

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