NZDUSD analysis for 06.06.2017

While NZDUSD can be chiefly under the influence of Qatar issue, there is a bank holiday in New Zealand. The support rests at 0.71370 with resistance at 0.71830 which both lines are above the weekly pivot point at 0.71080. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 100 and 200. The RSI is moving horizontally in 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 an upward trend. Long positions are recommended targeting 0.72. https://fxglory.com/nzdusd-analysis-for-06-06-2017/