AUD/NZD Price Analysis: Bears challenge critical support near 1.0740

  • AUD/NZD extends the previous session’s sluggish movement on Friday.
  • Pair slips below 100-day SMA, additional downside below the 1.0740 mark.
  • Momentum oscillators suggest downside momentum.

AUD/NZD trades with a  cautious tone on the last trading day of the week in the Asian session. The cross opened higher from the earlier day close, but failed to hold onto the gains and traveled to the low of 1.0732.

At the time of writing, AUD/NZD is trading at 1.0736, down 0.04% for the day.

AUD/NZD daily chart

On the daily chart, the AUD/NZD cross has been trading in a broader range of 1.0720-1.0820 since late April. A downside breakout happened on May 25 after that price tested low of 1.0599 levels last seen in February. 

Price traced recovery back to the upper side of the range on June 10, since then it is making downside movement.

A sustained move below the session’s low would bring June 8 low back in the picture at 1.0714. This also marks the break of the long consolidating channel.

In doing so, AUD/NZD  bears would aim for the 1.0685 horizontal support level.

The 14-day Relative Strength Index(RSI)indicator reads below 50, which signifies the bearish biasness in the pair.  Any downtick in the RSI could test the 1.0650 horizontal support level.
Alternatively, if price moves higher then, it could crawl back to the 100-day Simple Moving Average (SMA) at 1.07708.

The next area of resistance could be located at a  June high of 1.0786 followed by the high of a day earlier at 1.0800.

AUD/NZD additional levels


Today last price 1.0734
Today Daily Change -0.0020
Today Daily Change % -0.19
Today daily open 1.0754
Daily SMA20 1.0739
Daily SMA50 1.0754
Daily SMA100 1.0769
Daily SMA200 1.0726
Previous Daily High 1.0787
Previous Daily Low 1.0699
Previous Weekly High 1.0814
Previous Weekly Low 1.0744
Previous Monthly High 1.0851
Previous Monthly Low 1.06
Daily Fibonacci 38.2% 1.0753
Daily Fibonacci 61.8% 1.0732
Daily Pivot Point S1 1.0706
Daily Pivot Point S2 1.0659
Daily Pivot Point S3 1.0619
Daily Pivot Point R1 1.0794
Daily Pivot Point R2 1.0834
Daily Pivot Point R3 1.0882



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD extends gains beyond 1.1820 after US data miss

EUR/USD is trading near weekly highs above 1.1820, as the greenback eases with worse than anticipated data and ahead of the US Federal Reserve decision. US Durable Goods Orders missed estimates with +0.8% in June.


GBP/USD recaptures 1.38 as the dollar pares gains

GBP/USD is trading above 1.38, as the safe-haven dollar gains have faded away after a risk-off mood earlier in the day. The pound benefited from the drop in British covid cases. 


Gold battles $1,800 as USD lingers near highs

Gold prices loiter near the $1,800 mark for the past five trading sessions. The US dollar remains steady near the four-month high ahead of the Fed’s interest rate decision. The prices moved cautiously despite the general negative sentiments surrounding the greenback.

Gold News

Crypto markets bleed after Amazon denies rumors; uptrend intact

Bitcoin price is experiencing a pullback after rallying 38% to tag $40,000. Ethereum price promptly follows BTC as it eyes a retracement to the $2,018 support level.

Read more

FX: 10 things to watch this week

Taking a look at the economic calendar, it is set to be a busy week for the forex market. There’s a central bank rate decision, GDP, inflation and employment reports scheduled for release. A number of big tech companies have ...

Read more