NZDUSD analysis for 11.10.2016

NZDUSD is falling down the descendant channel. The support rests in 0.70290 with resistance at 0.71290 which both lines are below the weekly pivot point at 0.71950. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100. The RSI is moving horizontally in oversold area, the MACD indicator is negative territory and the Stochastic is showing downward momentum. Short positions are recommended targeting 0.7050.

https://fxglory.com/nzdusd-analysis-for-11-10-2016/