AUD/NZD Price Analysis: Aussie finds decent resistance at 1.0950

Aussie continues to face resistance at 1.0950 versus the Kiwi.
AUD/NZD bullish outlook intact, above 1.0950 next target at 1.1000.

Matías Salord FXStreet

The AUD/NZD is pulling back on Monday after being unable to break the 1.0950 area. It tested the multi-month high but then retreated, reaching levels under 1.0900.

The kiwi is having the best day in a month versus the aussie. The daily chart is starting to show some bearish signs like the RSI and momentum turning south. Below 1.0880, the correction could gain speed. A critical support is seen around 1.0850/60, which should favor a rebound. A close below would suggest more downside ahead.

A break above 1.0950/55 in AUD/NZD would clear the way to more gains targeting the 1.10 zone. The positive dominant tone is likely to remain in place while above 1.0730.

AUD/NZD daily chart

AUD/NZD

Overview
Today last price	1.0893
Today Daily Change	-0.0014
Today Daily Change %	-0.13
Today daily open	1.0907

Trends
Daily SMA20	1.0793
Daily SMA50	1.0747
Daily SMA100	1.0687
Daily SMA200	1.0732

Levels
Previous Daily High	1.0948
Previous Daily Low	1.0889
Previous Weekly High	1.0948
Previous Weekly Low	1.0781
Previous Monthly High	1.0829
Previous Monthly Low	1.0539
Daily Fibonacci 38.2%	1.0925
Daily Fibonacci 61.8%	1.0911
Daily Pivot Point S1	1.0882
Daily Pivot Point S2	1.0856
Daily Pivot Point S3	1.0823
Daily Pivot Point R1	1.094
Daily Pivot Point R2	1.0973
Daily Pivot Point R3	1.0999

AUD/NZD

Overview
Today last price	1.0893
Today Daily Change	-0.0014
Today Daily Change %	-0.13
Today daily open	1.0907

Trends
Daily SMA20	1.0793
Daily SMA50	1.0747
Daily SMA100	1.0687
Daily SMA200	1.0732

Levels
Previous Daily High	1.0948
Previous Daily Low	1.0889
Previous Weekly High	1.0948
Previous Weekly Low	1.0781
Previous Monthly High	1.0829
Previous Monthly Low	1.0539
Daily Fibonacci 38.2%	1.0925
Daily Fibonacci 61.8%	1.0911
Daily Pivot Point S1	1.0882
Daily Pivot Point S2	1.0856
Daily Pivot Point S3	1.0823
Daily Pivot Point R1	1.094
Daily Pivot Point R2	1.0973
Daily Pivot Point R3	1.0999

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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