NZDUSD analysis for 21.11.2016

NZD is under pressure due to the Fed and RBNZ policy issue. The support rests at 0.69860 with resistance at 0.70280 which both lines are below the weekly pivot point at 0.70500. 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 horizontally in oversold area, the MACD indicator is in negative territory and the Stochastic is moving in its minimum rate. The ADX is not showing any clear signal. Long positions are recommended with the target at 0.7100.

https://fxglory.com/nzdusd-analysis-for-21-11-2016/