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AUD/NZD Price Analysis: Aussie struggles to develop a bounce against Kiwi, stuck near 1.0730

The AUD/NZD has been bolted to chart territory north of 1.0700 in the near-term.
The Aussie's tumble last week has seen little paring back as the pair waffles in the midrange.

Joshua Gibson FXStreet

The AUD/NZD has been stuck near 1.0730 since a backslide from 1.0860 last week, and the Aussie-Kiwi pairing tumbled out of a near-term consolidation range to trade into an entirely new range just north of the 1.0700 handle.

A near-term technical floor is firming up at the 1.0730 price level, and intraday upside swings that fail to generate bullish momentum see a technical ceiling capping off upside price action from 1.0770.

On the daily candlesticks, the AUD/NZD is set to see some technical consolidation before returning to the upside somewhere north of the 200-day Simple Moving Average (SMA), which has been consolidating with the 50-day SMA near the 1.0800 handle since mid-July.

Sideways chart churn has been the name of the game for the AUD/NZD through most of 2023's trading action, and if seller's aren't able to kick in a short extension below 1.0700, bidders will be taking the reigns to send the AUD/NZD back into recent swing highs near 1.0850.

AUD/NZD Hourly Chart

AUD/NZD Daily Chart

AUD/NZD Technical Levels

AUD/NZD

Overview
Today last price	1.0733
Today Daily Change	-0.0025
Today Daily Change %	-0.23
Today daily open	1.0758

Trends
Daily SMA20	1.0824
Daily SMA50	1.0795
Daily SMA100	1.0818
Daily SMA200	1.0805

Levels
Previous Daily High	1.0762
Previous Daily Low	1.0702
Previous Weekly High	1.0862
Previous Weekly Low	1.0702
Previous Monthly High	1.0944
Previous Monthly Low	1.0723
Daily Fibonacci 38.2%	1.0739
Daily Fibonacci 61.8%	1.0725
Daily Pivot Point S1	1.0719
Daily Pivot Point S2	1.0681
Daily Pivot Point S3	1.066
Daily Pivot Point R1	1.0779
Daily Pivot Point R2	1.0801
Daily Pivot Point R3	1.0839

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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