NZDUSD analysis for 17.10.2017

New Zealand has published Inflation Rate QoQ and the US will release Industrial Production MoM, Foreign Bond Investment and Monthly Budget Statement. The support rests in 0.71520 with resistance at 0.71960 which both lines are above the weekly pivot point at 0.71370. The EMA of 10 is moving with bullish bias along the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is rising above the 50 level, the MACD indicator is in positive territory and the Stochastic is moving in low 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 a horizontal trend. Long positions are recommended towards 0.725. https://fxglory.com/nzdusd-analysis-for-17-10-2017/