While Yellen’s speech on Monday empowered USD, put pressure on NZD. The support rests in 0.69040 with resistance at 0.69560 which both lines are below the weekly pivot point at 0.70030. 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 high ranges. The ADX is showing a weak sell signal. Short positions are recommended targeting 0.6800.
NZDUSD analysis for 21.12.2016
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