Due to the risk appetite growth NZDUSD found support and is fluctuating around the 0.70 range. This morning NZDUSD started its movement with bullish bias finding support at 0.70680 with resistance at 0.71440 which both lines are above the weekly pivot point at 0.70350. The EMA of 10 is moving above the EMA of 75 showing the price growth in recent days. The RSI is in overbought area and the MACD indicator is in positive territory but it is not showing any momentum for staying there. The Stochastic is showing upward momentum as well. Short positions are recommended with the target at 0.7015.
NZDUSD analysis for 20.06.2016
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