AUD/NZD Price Analysis: At risk of losing bullish momentum beyond 1.0860

The AUD/NZD is seeing downside play after peaking near 1.0920 in the mid-week.
The pair has rallied from a low near 1.0640, but topside momentum appears to have emptied the tank.
Aussie-Kiwi prices are set to continue cycling the 200-day SMA with a lack of long-term momentum.

Joshua Gibson FXStreet

The AUD/NZD is trading into 1.0860 after Thursday's market session saw the pair pull back towards the 200-day Simple Moving Average (SMA), tipping into a daily low of 1.0828 as the recent bullish upswing runs out of momentum.

The pair hit a one-month high of 1.0915 on Wednesday after rebounding 2.75% from October's low near 1.0620.

The AUD/NZD has been steadily cycling the 200-day SMA for the majority of the year as the Aussie (AUD) and the Kiwi (NZD) battle it out for supremacy, with neither Antipodean gaining a firm technical foothold on the other.

The Relative Strength Index (RSI) is beginning to rotate downwards once more after losing momentum just shy of the signal line for overbought technical conditions, and the pair could be ripe for a late-stage bullish extension if Aussie traders find new data to chew on.

On the low side, the 50-day SMA continues to consolidate near the 200-day SMA, implying recent moves only had a temporary momentum effect, and the pair is set to see a return to chart paper near 1.0750.

AUD/NZD Hourly Chart

AUD/NZD Daily Chart

AUD/NZD Technical Levels

AUD/NZD

Overview
Today last price	1.0864
Today Daily Change	-0.0009
Today Daily Change %	-0.08
Today daily open	1.0873

Trends
Daily SMA20	1.0738
Daily SMA50	1.0801
Daily SMA100	1.083
Daily SMA200	1.0819

Levels
Previous Daily High	1.0915
Previous Daily Low	1.086
Previous Weekly High	1.0846
Previous Weekly Low	1.0654
Previous Monthly High	1.0919
Previous Monthly Low	1.0718
Daily Fibonacci 38.2%	1.0881
Daily Fibonacci 61.8%	1.0894
Daily Pivot Point S1	1.0851
Daily Pivot Point S2	1.0828
Daily Pivot Point S3	1.0796
Daily Pivot Point R1	1.0906
Daily Pivot Point R2	1.0938
Daily Pivot Point R3	1.0961

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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