NZDUSD analysis for 08.12.2016

NZD lost its power due to the dairy prices growth. The support rests in 0.71840 with resistance at 0.72300 which both lines are above the weekly pivot point at 0.71040. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100 and the EMA of 200. The RSI is growing towards the overbought area, the MACD indicator is in positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. Long positions are recommended targeting 0.7250.

https://fxglory.com/nzdusd-analysis-for-08-12-2016/