Friday, September 29, 2017

NZDUSD analysis for 29.09.2017

NZDUSD is chiefly under the influence of the US economic reports. If U.S. Final GDP report comes out strong, NZDUSD will decline. The support rests at 0.71950 with resistance at 0.72350 which both lines are below the weekly pivot point at 0.73360. 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 moving below the 50 level, the MACD indicator is in negative 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 is showing a horizontal trend while the Kijun-sen is showing a downward trend. Short positions are recommended towards 0.710.

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