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.

Matías Salord FXStreet

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

AUD/NZD

Overview
Today last price	1.0673
Today Daily Change	0.0061
Today Daily Change %	0.57
Today daily open	1.0612

Trends
Daily SMA20	1.0657
Daily SMA50	1.0695
Daily SMA100	1.0547
Daily SMA200	1.0536

Levels
Previous Daily High	1.0625
Previous Daily Low	1.0559
Previous Weekly High	1.0665
Previous Weekly Low	1.0565
Previous Monthly High	1.0883
Previous Monthly Low	1.0582
Daily Fibonacci 38.2%	1.06
Daily Fibonacci 61.8%	1.0584
Daily Pivot Point S1	1.0572
Daily Pivot Point S2	1.0532
Daily Pivot Point S3	1.0506
Daily Pivot Point R1	1.0638
Daily Pivot Point R2	1.0665
Daily Pivot Point R3	1.0704

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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