NZD is being supported due to the positive New Zealand’s labor market report. The support rests in 0.72690 with resistance at 0.73270 which both lines are above the weekly pivot point at 0.71500. The EMA of 10 is moving with bullish bias and it has crossed the EMA of 100 and the EMA of 200. The RSI is moving horizontally in overbought area, the MACD indicator is in positive territory and the Stochastic is moving in its maximum rate. The ADX is showing stronger buy opportunity than sell. Long positions are recommended targeting 0.7350.
NZDUSD analysis for 03.11.2016
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