NZD/USD is Bearish - Sustaining On A Falling Trend Line

SUMMARY:

The major trend of NZD/USD is bearish. The pair is sustaining on the falling trendline with a negative bias. Today if the pair sustains below 0.7770 we can expect it to test the level of 0.7741. MACD line is sustaining below the zero line, which is also indicating the bearish sentiment in the market. RSI is also supporting the same.

Today's Chart: NZD/USD (HOURLY )

Pivot Points 

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2394	1.2437	1.2492	1.2535	1.2590	1.2633	1.2688
GBP/USD	1.5917	1.5940	1.5971	1.5994	1.6025	1.6048	1.6079
USD/JPY	112.23	112.69	113.14	113.60	114.05	114.51	114.96
USD/CHF	0.9478	0.9528	0.9563	0.9613	0.9648	0.9698	0.9733
AUD/USD	0.8565	0.8604	0.8672	0.8711	0.8779	0.8818	0.8886
EUR/GBP	0.7770	0.7790	0.7815	0.7835	0.7860	0.7880	0.7905
USD/CAD	1.1264	1.1300	1.1355	1.1391	1.1446	1.1482	1.1537
NZD/USD	0.7637	0.7673	0.7743	0.7779	0.7849	0.7885	0.7955

STRATERGY :- 

For Today, NZD/USD is looking weak on chart. We can expect downside movement for few upcoming session. One can go for sell on higher level strategy for this pair for intra day to mid term positions. 

TODAY’S ECONOMIC EVENTS 

Date WED NOV 5th 2014	Time (GMT)	Currency	Economic Data	Forecast	Previous
	1:30am	JPY	Average Cash Earnings y/y	0.9%	0.9%
	1:45am	CNY	HSBC Services PMI		53.5
	2:30am	JPY	BOJ Gov Kuroda Speaks
	08:15:00	CHF	CPI m/m	-0.1%	0.1%
		EUR	Spanish Services PMI	56.2	55.8
	8:45am	EUR	Italian Services PMI	49.6	48.8
	9:30am	GBP	Services PMI	58.5	58.7
	10:00am	EUR	Retail Sales m/m	-0.6%	1.2%
	1:15pm	USD	ADP Non-Farm Employment Change	214K	213K
	2:15pm	USD	FOMC Member Kocherlakota Speaks
	3:00pm	USD	ISM Non-Manufacturing PMI	58.2	58.6
	3:30pm	USD	Crude Oil Inventories	1.8M	2.1M
	11:50pm	JPY	Monetary Policy Meeting Minutes

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