NZDUSD analysis for 17.05.2017

New Zealand has already published PPI Input and Output reports. The support rests at 0.68860 with resistance at 0.69160 which both lines are below the weekly pivot point at 0.68740. The EMA of 10 is moving with bullish bias along the ascendant channel but it is below the EMA of 100 and 200. The RSI is rising above the 50 level, the MACD indicator is in neutral territory and the Stochastic is showing upward momentum. The ADX is showing buy signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a downward trend. Long positions are recommended targeting 0.6950. https://fxglory.com/nzdusd-analysis-for-17-05-2017/