NZDUSD analysis for 10.08.2017

New Zealand has published Interest Rate Decision and the US is releasing Initial Jobless Claims and Core PPI MoM. The support rests at 0.72280 with resistance at 0.73020 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 100 and 200. The RSI is moving in oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend. The pair may go down a little bit but the support area seems to be too strong to be broken therefore buyers can target 0.7389. https://fxglory.com/nzdusd-analysis-for-10-08-2017/