AUD/NZD Price Analysis: Aussie tumbles against the Kiwi in its worst down day since April, down 0.75%
- The Aussie has tumbled out of recent consolidation against the Kiwi, closing the gap on 1.0700.
- A hawkish RBNZ is driving the Kiwi higher, sending the AUD/NZD pair back down.
- The Aussie is down three-quarters of a percent against the Kiwi into 1.0750, a five-week low.
The AUD/NZD has declined three-quarters of a percent on Wednesday, heading into the trading day’s close near 1.0750 after backsliding nearly 1.3% peak-to-trough from the day’s peak at 1.0861.
Fueled by a rapid rebalance sparked by a hawkish Reserve Bank of New Zealand (RBNZ), the pair has undergone a dramatic rebalance, shattering the intraday trading pattern and dragging the AUD/NZD out of recent consolidation and into its lowest bids in five weeks.
The Aussie (AUD) has slid straight through the 50- and 200-day Simple Moving Averages (SMA) near the 1.0800 handle, shedding weight against the Kiwi (NZD) to trade on the south side of the last swing low of 1.0780 on the daily candlesticks.
The AUD/NZD is now running directly into a technical support level at 1.0750 that has become familiar in 2023’s back-and-forth momentum swings in the pair, but October’s swing low into 1.0625 has destabilized the technical level somewhat.
On the top end, November’s peak bids just shy of 1.0950 will be the ultimate ceiling on any long-term bullish momentum, while the last swing high into 1.0875 will be the immediate target for bulls to beat.
Australian Dollar price today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the Swiss Franc.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.32% | 0.14% | 0.18% | 0.55% | 0.06% | -0.19% | -0.37% | |
| EUR | -0.31% | -0.16% | -0.14% | 0.24% | -0.26% | -0.52% | -0.67% | |
| GBP | -0.15% | 0.16% | 0.04% | 0.39% | -0.11% | -0.37% | -0.51% | |
| CAD | -0.17% | 0.15% | -0.02% | 0.39% | -0.12% | -0.35% | -0.54% | |
| AUD | -0.54% | -0.25% | -0.41% | -0.39% | -0.49% | -0.75% | -0.93% | |
| JPY | -0.07% | 0.24% | 0.09% | 0.12% | 0.51% | -0.25% | -0.41% | |
| NZD | 0.22% | 0.50% | 0.33% | 0.34% | 0.75% | 0.23% | -0.18% | |
| CHF | 0.33% | 0.65% | 0.51% | 0.53% | 0.92% | 0.39% | 0.18% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
AUD/NZD Hourly Chart
AUD/NZD Daily Chart
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.
