NZDUSD is falling down the descendant channel creating lower highs and lower lows.
The support rests in 0.70160 with resistance at 0.70620 which both lines are below the weekly pivot point at 0.71900. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving horizontally on the oversold area, the MACD indicator is in negative territory and the Stochastic is moving in low ranges. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
Short positions are recommended targeting 0.6942.

nzdusd analysis