AUD/NZD Price Analysis: Aussie extends gains near 1.0800 as bullish momentum builds

AUD/NZD trades near the 1.0800 zone after modest gains in Thursday’s session.
Short-term indicators support the bullish bias, despite mixed long-term signals.
Immediate support holds below, while resistance aligns near recent highs.

Patricio Martín FXStreet

The AUD/NZD pair climbed higher on Thursday, trading near the 1.0800 area after the European session, reflecting a steady bullish tone as the market approaches the Asian session. The pair remains close to the top of its daily range, suggesting that buyers maintain control despite some mixed signals from longer-term averages. Short-term momentum appears supportive, with the pair finding consistent demand on dips.

Technically, the AUD/NZD is flashing a bullish signal overall. The Relative Strength Index remains neutral near 53, indicating balanced momentum without immediate overbought pressure. The Moving Average Convergence Divergence supports the current uptrend with a confirmed buy signal, while the Stochastic RSI Fast and Commodity Channel Index remain neutral, reflecting a stable upward trajectory without immediate exhaustion.

Shorter-term moving averages also reinforce the positive outlook. The 10-day Exponential and Simple Moving Averages, both positioned near current price levels, are trending higher and provide immediate dynamic support. The 20-day Simple Moving Average sits just below, further underpinning the bullish case. However, the longer-term 100-day and 200-day Simple Moving Averages remain well above, suggesting that broader selling pressure may still cap gains in the medium term.

Support levels are noted at 1.0836, 1.0823, and 1.0815. Resistance stands at 1.0867, 1.0888, and 1.0927. A break above the immediate resistance zone could confirm a broader breakout, while a drop below support might trigger a short-term correction.

Daily Chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold falls to near $5,100 as inflation fears weigh amidst Middle East conflict

Gold price faces some selling pressure near $5,100 during the early Asian session on Wednesday. The precious metal falls amid a renewed US Dollar demand and dimming prospects for US rate cuts. The US ISM Services Purchasing Managers Index report will be published later on Wednesday.