AUD/NZD Price Analysis: Pair Holds Bullish Tone Ahead of Asian Session
|- AUD/NZD trades near the 1.09 zone, maintaining a modest bullish tone.
- Momentum remains mixed, with short-term averages supporting the upside.
- Key support sits near 1.0880, with resistance around 1.0920 and 1.0950.
The AUD/NZD pair is trading around the 1.09 zone ahead of the Asian session on Tuesday, reflecting a slight bullish tone with minor gains on the day. The pair remains within the mid-range of its recent fluctuation, signaling a stable but cautious upward bias as traders assess broader market dynamics. Key technical indicators suggest a mixed picture, with shorter-term signals supporting the current trend while longer-term averages hint at potential headwinds.
From a technical standpoint, the Relative Strength Index (RSI) hovers in the 60s, reflecting neutral conditions, while the Moving Average Convergence Divergence (MACD) supports ongoing buy momentum. The Ultimate Oscillator (7, 14, 28) also remains in the 60s, adding to the stable but cautiously positive outlook. Meanwhile, the Average Directional Index (14) in the 20s signals a lack of clear directional strength, aligning with the neutral reading of the Stochastic RSI Fast (3, 3, 14, 14), which rests in the 100s.
Short-term moving averages, including the 10-day Simple Moving Average (SMA) and 10-day Exponential Moving Average (EMA), align with the broader buy signals, further reinforcing the pair's current bullish stance. However, the 100-day and 200-day SMAs suggest a more cautious long-term outlook, reflecting underlying selling pressure that could limit further upside.
Immediate support levels are identified near 1.0881, followed by 1.0876 and 1.0868. On the upside, resistance is likely around 1.0924, with stronger barriers at 1.0947 and 1.0974, potentially capping gains in the near term.
Daily Chart
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