NZDUSD analysis for 09.08.2017

There are no major economic reports in New Zealand however the US is publishing Wholesale Inventories MoM and Nonfarm Productivity QoQ Prel. The support rests in 0.73020 with resistance at 0.73280 which both lines are below the weekly pivot point at 0.74420. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the MACD indicator is in negative territory and the Stochastic is moving in low ranges. The ADX is showing buy signals. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend. NZDUSD will continue its bearish trend towards 0.72. https://fxglory.com/nzdusd-analysis-for-09-08-2017/