NZDUSD analysis for 22.05.2017

NZDUSD has been fluctuating within the horizontal rectangle. The support rests in 0.69240 with resistance at 0.69500 which both lines are above the weekly pivot point at 0.69070. The EMA of 10 is moving with bullish bias and it is above the EMA of 100 and below the EMA of 200. The RSI is moving horizontally in the overbought area, the MACD indicator is in positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The resistance level breakout will smooth the way for further growth otherwise NZDUSD will fall towards 0.6850. https://fxglory.com/nzdusd-analysis-for-22-05-2017/