NZDUSD analysis for 16.10.2020
Business NZ Manufacturing Index was released in New Zealand and the US will publish Retail Sales, Capacity Utilization and Industrial Production.
The support rests at 0.65740 with resistance at 0.66190 which both lines are below the weekly pivot point at 0.66310. The EMA of 10 is moving with bearish bias in the ascendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is rising towards level 50, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 0.66500.