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.

GBP/USD clings to daily gains near 1.3350

GBP/USD holds just in positive territory around 1.3350 on Friday as the Greenback keeps a vacillating price action. With Fed rate hike expectations easing and US markets closed for the Independence Day holiday, Cable remains on track to post solid weekly gains.

EUR/USD remains sidelined around 1.1440

EUR/USD holds on to its recent gains and consolidates around 1.1440 at the end of the week as the US Dollar lacks clear direction. In the meantime, trading conditions remain subdued, with volatility constrained by the closure of US markets for the Independence Day holiday.

Gold flirts with two-week highs, targets $4,200

Gold extends its recovery for a third straight day, advancing toward the $4,200 mark per troy ounce on Friday. The precious metal looks set to snap a four-week losing streak as softer-than-expected June US NFP data prompt investors to scale back expectations of further Fed tightening.

Crypto Today: Bitcoin, Ethereum, XRP advance amid renewed capital inflows

Bitcoin maintains its upward momentum, holding above the $61,000 mark at the time of writing on Friday. Major altcoins such as Ethereum and Ripple are also posting gains, signaling a modest uptick in market sentiment and renewed risk appetite among investors.

The Iran war failed to trigger a recession. Can the US economy keep defying expectations?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.