NZD is losing its power against its American counterpart due to the Fed’s rate hike. The support rests in 0.70110 with resistance at 0.70450 which both lines are below the weekly pivot point at 0.71480. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the MACD indicator is in negative territory and the Stochastic is moving horizontally in low ranges. The ADX is showing sell signal. Short positions are recommended targeting 0.70 area.
NZDUSD analysis for 16.12.2016
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