AUD/NZD bears in control to the 200 HMA


  • AUD/NZD testing the 200-HMA as bears take back control. 
  • Central banks in focus, both RBA and RBNZ weigh weaker economic growth.

AUD/NZD has been testing the 200-hour moving average in the open today, sliding from a high of 1.0744 to a low of 1.0722 in a bearish scenario from on a technical basis, albeit deriving some support on the basis of a less dovish Reserva Bank of Australia. 

Eyes on RBA and RBNZ's next move

However, there was little reaction to RBA governor Lowe’s upbeat tone from the IMF meetings in Washington DC but pricing for a Nov rate cut was lower than as of late Thursday, which helps AUD.

The Reserve Bank, Philip Lowe, said: “Negative interest rates are extraordinary unlikely in my country", further cement the conclusion that the RBAsees the ELB in positive territory and, most likely, above zero. With respect to recent data, the underemployment rate fell from 8.53% to 8.35% which should be will be sufficient to avert another rate cut. As for the Reserve Bank of New Zealand, the RBNZ likely consider weaker economic growth outlook and the risk of inflation expectations slipping.

AUD/NZD levels

AUD/NZD

Overview
Today last price 1.0728
Today Daily Change -0.0010
Today Daily Change % -0.09
Today daily open 1.0738
 
Trends
Daily SMA20 1.0729
Daily SMA50 1.0681
Daily SMA100 1.0579
Daily SMA200 1.0543
 
Levels
Previous Daily High 1.0762
Previous Daily Low 1.0714
Previous Weekly High 1.0795
Previous Weekly Low 1.0685
Previous Monthly High 1.0852
Previous Monthly Low 1.063
Daily Fibonacci 38.2% 1.0732
Daily Fibonacci 61.8% 1.0744
Daily Pivot Point S1 1.0714
Daily Pivot Point S2 1.0689
Daily Pivot Point S3 1.0665
Daily Pivot Point R1 1.0762
Daily Pivot Point R2 1.0786
Daily Pivot Point R3 1.0811

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD hits highest since March amid US protests, European reopening

EUR/USD has jumped above 1.1150, trading at the highest since March. Protests in the US are grabbing the headlines and marginally supporting the dollar. European countries continue reopening their economies amid falling coronavirus statistics. 

EUR/USD News

GBP/USD resumes rally amid Brexit optimism, dollar weakness

GBP/USD is trading above 1.2550, extending its gains. Reports about British readiness to compromise in Brexit talks, conditioned on EU concessions, is helping boost the pound. US protests are eyed.

GBP/USD News

Bitcoin is three steps away from $14000

Bitcoin joins the list of bullish breakouts and leaves the relative highs at $14000 as a clear target in the short term. Ethereum continues to gain market share and sets the price level of $300 as a goal in the short term.

Read more

Gold trades with modest losses around $1735 level, downside seems limited

Gold traded with a mild negative bias through the early European session and was last seen hovering near the lower end of its daily range, around the $1735 region.

Gold News

WTI sits at three-month highs near $36.50 ahead of Russia’s decision, API

WTI (July futures on Nymex) broke its bullish consolidative phase to the upside in the European session and clinched fresh three-month highs at 36.48.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures