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AUD/NZD Price Analysis: Aussie rises back above 20-DMA, likely to take a pause after recent rally

  • AUD/NZD bias now is to the upside in the short-term.
  • After the significant rally, some consolidation ahead seems likely.

The AUD/NZD pair is rising sharply for the second day in a row. In the rally broke key short-term technical levels. It climbed back above the 20-day moving average suggestion it could have based.

The cross might have based around 1.0555/60, at least in the short-term if it holds above 1.0650. If AUD/NZD drops back below, attention would turn to 1.0530/35, where the 100 and 200-day moving averages are seen.

On the upside, the next strong resistance area is seen at 1.0680 (horizontal level and 55-day moving average). A break higher would target 1.0720, where a downtrend line is seen.

AUD/NZD daily chart

audnzd

AUD/NZD

Overview
Today last price1.0673
Today Daily Change0.0061
Today Daily Change %0.57
Today daily open1.0612
 
Trends
Daily SMA201.0657
Daily SMA501.0695
Daily SMA1001.0547
Daily SMA2001.0536
 
Levels
Previous Daily High1.0625
Previous Daily Low1.0559
Previous Weekly High1.0665
Previous Weekly Low1.0565
Previous Monthly High1.0883
Previous Monthly Low1.0582
Daily Fibonacci 38.2%1.06
Daily Fibonacci 61.8%1.0584
Daily Pivot Point S11.0572
Daily Pivot Point S21.0532
Daily Pivot Point S31.0506
Daily Pivot Point R11.0638
Daily Pivot Point R21.0665
Daily Pivot Point R31.0704

Author

Matías Salord

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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