NZDUSD analysis for 09.05.2017

New Zealand is publishing Card Spending (MoM) along with the US releasing Wholesale Inventories. The support rests at 0.68680 with resistance at 0.69180 which the weekly pivot point at 0.69080 is located in between the lines. 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 falling towards the oversold area, the MACD indicator is in neutral 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. Short positions are recommended targeting 0.6850. https://fxglory.com/nzdusd-analysis-for-09-05-2017/