AUD/NZD Price Analysis: Aussie softens near 1.0800 as bearish tone gains traction
- AUD/NZD was seen around the 1.0800 zone after retreating through Tuesday’s post-European session.
- Bearish bias is reinforced by downward pressure from long-term averages.
- Key support sits just below, while resistance is defined by clustered short-term moving averages.
The AUD/NZD pair edged lower on Tuesday, trading near the 1.0800 zone after a steady decline through the European session. Price action remained confined within the day’s range, but the downside drift highlights the underlying bearish tone as the pair approaches the Asian session. Despite some mixed momentum signals, the dominant pressure appears to come from the broader trend indicators.
Technically, AUD/NZD is flashing a bearish overall signal. The Relative Strength Index remains neutral near 49, while the Moving Average Convergence Divergence prints a soft buy signal — suggesting that momentum is stabilizing but not reversing. The Awesome Oscillator is also neutral, but the Average Directional Index leans bearish, pointing to an active downtrend that may continue in the short term.
The broader structure supports the bearish view. The 30-day Exponential and Simple Moving Averages — both positioned above price — signal persistent resistance. Similarly, the 100-day and 200-day Simple Moving Averages remain well above current levels and continue to slope downward. While the 20-day SMA offers some support just beneath spot, it lacks alignment with the longer-term trend.
Support is found at 1.0797, 1.0791, and 1.0777. Resistance levels are located at 1.0819, 1.0822, and 1.0842. A sustained break below support could accelerate downside pressure, while any bounce would likely meet stiff resistance near the converging short-term averages.
Daily Chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
