Technical Analysis – NZDUSD optimism prolonged; price action remains stalled
Posted on October 21, 2020 at 8:19 am GMTNZDUSD is currently trading in the vicinity of the 100-day simple moving average (SMA) and the red Tenkan-sen line, continuing to edge sideways, capped by the flattening 50-day SMA and Ichimoku cloud. The tone of the 50- and 200-day SMAs promotes a directionless market, while the 100-day SMA holds a positive course. Dried up directional momentum is also reflected in the horizontal Ichimoku lines as well as the short-term oscillators. The MACD is located barely below its zero mark and [..]