After the previous high at 0.72449, NZDUSD has been falling down the descendant channel.
The support rests in 0.71680 with resistance at 0.72120 which the weekly pivot point at 0.71900 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is moving horizontally on the 50 level, the MACD indicator is in positive territory and the Stochastic is moving in low ranges. The ADX is not showing any clear signals.
Short positions are recommended targeting 0.7150.

nzdusd analysis