NZDUSD analysis for 02.10.2017

NZD has been under pressure due to the Reserve Bank of New Zealand’s (RBNZ) monetary policy decision. The support rests in 0.71700 with resistance at 0.72170 which both lines are below the weekly pivot point at 0.72290. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is falling towards the 50 level, the MACD indicator is in negative territory and the Stochastic is moving in low 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 0.715. https://fxglory.com/nzdusd-analysis-for-02-10-2017/