NZDUSD analysis for 21.05.2020
Credit Card Spending was released in New Zealand and there will be Federal Reserve Chairman Jerome Powell’s talk in the US.
The support rests at 0.60980 with resistance at 0.61490 which both lines are above the weekly pivot point at 0.60040. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards 50 level, the MACD line is above the signal line in the 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 towards 0.60800.