Due to unsatisfactory economic data from China, the New Zealand Dollar is trading lower early Monday. There is a hesitance in the market by the investors. So, their decision determines today’s market trend.
The support rests at 0.72230 with resistance at 0.72450 which the Pivot Point at 0.72320 is located below the price line. Also, the price is going to touch the first residence. The EMA of 10 is moving in bullish bias and it is above EMA of 200 and below the EMA of 100 which are moving horizontally. The RSI is moving above the level of 50, the MACD histogram is in positive territory and is showing a buy signal. The Stochastic is moving in high ranges and the ADX is moving horizontally. The price is above the Ichimoku Cloud and the Chinkou Span near the market price. The Tenkan-sen is in horizontal state and the Kijun-sen is showing downward momentum.

• There is resistance at 0.72450, followed by resistance at 0.72540 and 0.72670.
• There is support at 0.72230 Below, there is 0.72100 and 0.72010.

nzdusdanalysis