AUD/NZD Price Analysis: Bearish while below 1.0740

AUD/NZD keeps moving slowly back toward 1.0570, remains in a short-term consolidation range.
A recovery above 1.0750 would alleviate the bearish pressure.

Matías Salord FXStreet

The AUD/NZD is falling for the third day in a row after the spike to near 1.0750. The rebound failed at the 20-day moving average that is critical resistance, now at 1.0715.

The consolidation range between 1.0750 and 1.0630 looks set to continue, with risks tilted to a break lower. A daily close under 1.0620 would clear the way for a decline toward 1.0550 (intermediate support at 1.0580).

A close above 1.0750 would alleviate the bearish pressure in the short-term. The next resistance stands at 1.0800. From a wider perspective, the aussie needs to consolidate above 1.0850 (weekly basis) to clear the way to more gains.

AUD/NZD technical levels

AUD/NZD

Overview
Today last price	1.0653
Today Daily Change	-0.0008
Today Daily Change %	-0.08
Today daily open	1.0661

Trends
Daily SMA20	1.0718
Daily SMA50	1.0669
Daily SMA100	1.0505
Daily SMA200	1.0545

Levels
Previous Daily High	1.0696
Previous Daily Low	1.065
Previous Weekly High	1.0745
Previous Weekly Low	1.0628
Previous Monthly High	1.0841
Previous Monthly Low	1.0574
Daily Fibonacci 38.2%	1.0667
Daily Fibonacci 61.8%	1.0678
Daily Pivot Point S1	1.0642
Daily Pivot Point S2	1.0623
Daily Pivot Point S3	1.0596
Daily Pivot Point R1	1.0688
Daily Pivot Point R2	1.0715
Daily Pivot Point R3	1.0734

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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