AUD/NZD Price Analysis: Aussie points to more gains toward 1.0900

Kiwi among worst performers on Thursday, adding strength to the rally of AUD/NZD.
A daily close above 1.0825 likely to open the door to more gains.

Matías Salord FXStreet

The AUD/NZD pair is rising sharply after correcting lower during three consecutive days. The pair peaked at 1.0842, reaching the highest level since January and then pulled back modestly, holding above 1.0800 so far.

The area around 1.0800 and 1.0820 is a critical barrier that, if broken, should clear the way to more significant gains, with the first target near 1.0900. The aussie is trading above the mentioned zone and technical indicators point to the upside, favoring an extension to the upside.

If AUD/NZD pulls back under 1.0800, it could suggest the aussie is not ready to move higher. The decline would likely find initial support at 1.0750 (21-day MA). Under that area at 1.0690, there is a downtrend line on a closing basis. The bullish outlook will be negated if the pair drops below 1.0620/30 (uptrend line from December low).

AUD/NZD daily chart

AUD/NZD

Overview
Today last price	1.0831
Today Daily Change	0.0061
Today Daily Change %	0.57
Today daily open	1.077

Trends
Daily SMA20	1.0747
Daily SMA50	1.0732
Daily SMA100	1.0674
Daily SMA200	1.0725

Levels
Previous Daily High	1.0793
Previous Daily Low	1.0748
Previous Weekly High	1.0822
Previous Weekly Low	1.0704
Previous Monthly High	1.0829
Previous Monthly Low	1.0539
Daily Fibonacci 38.2%	1.0765
Daily Fibonacci 61.8%	1.0776
Daily Pivot Point S1	1.0748
Daily Pivot Point S2	1.0725
Daily Pivot Point S3	1.0703
Daily Pivot Point R1	1.0793
Daily Pivot Point R2	1.0815
Daily Pivot Point R3	1.0838

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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