NZDUSD analysis for 10.10.2017

NZD is chiefly sensitive to the commodities market. The support rests at 0.70550 with resistance at 0.70840 which both lines are below the weekly pivot point at 0.71230. 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 in the oversold area, the MACD indicator is in negative territory and the Stochastic is moving in middle ranges. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend. Short positions are recommended towards 0.700. https://fxglory.com/nzdusd-analysis-for-10-10-2017/