NZDUSD analysis for 23.02.2017

NZDUSD is falling down the descendant channel. The support rests in 0.71680 with resistance at 0.72240 which the weekly pivot point at 0.71850 is located in between the lines. The EMA of 10 is moving with bullish bias and it has already reached the EMA of 200; they are both below the EMA of 100. The RSI is moving horizontally close to the overbought area, the MACD indicator is in neutral territory and the Stochastic is moving in high ranges. The ADX is showing a buy signal. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a downward trend. There are not enough signals to forecast the target for sure however, the support level breakthrough will smooth the way for 0.7100. https://fxglory.com/nzdusd-analysis-for-23-02-2017/