NZDUSD analysis for 26.07.2017

New Zealand is releasing Balance of Trade along with the US publishing New Home Sales and Fed Interest Rate Decision. The support rests in 0.74100 with resistance at 0.74400 which both lines are above the weekly pivot point at 0.73910. The EMA of 10 is moving horizontally and it is above the EMA of 200 and below the EMA of 100. The RSI is falling towards the 50 level, the MACD indicator is in positive territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Short positions are recommended targeting 0.7350. https://fxglory.com/nzdusd-analysis-for-26-07-2017/