- AUD/NZD takes the bids to refresh intraday high after RBNZ Q3 Inflation Expectations.
- RBNZ Q3 Inflation Expectations eased to 3.07% versus 3.29% prior.
- Upside break of 200-HMA, upbeat oscillators also favor buyers.
- Nearby support confluence around 1.1065 restricts immediate downside.
AUD/NZD remains on the front foot, extending Friday’s upside break of the one-week-old descending trend line, after softer inflation expectations data from the Reserve Bank of New Zealand (RBNZ) during early Monday in Europe.
That said, the Q3 RBNZ Inflation Expectations dropped below 3.29% prior to 3.07%, which in turn joins recently mixed data from New Zealand to weaken the New Zealand dollar (NZD) after the release.
Following the data, AUD/NZD pokes the 200-HMA, around 1.1090 while extending the previous day’s upside break of the key resistance line, now support near 1.1065.
Additionally favoring the AUD/NZD bulls are the firmer RSI and bullish MACD signals, not to forget a two-day-old support line near 1.1065.
With this, the quote is ready to cross the 1.100 threshold, which in turn could please buyers while directing them towards the monthly high near 1.1125.
Alternatively, pullback remains elusive until the quote stays beyond 1.1065, a break of which could direct the AUD/NZD sellers towards the previous weekly low around the 1.10000 psychological magnet.
AUD/NZD: Hourly chart
Trend: Further upside expected
Additional important levels
|Today last price||1.1078|
|Today Daily Change||0.0016|
|Today Daily Change %||0.14%|
|Today daily open||1.1062|
|Previous Daily High||1.1083|
|Previous Daily Low||1.1041|
|Previous Weekly High||1.1141|
|Previous Weekly Low||1.1006|
|Previous Monthly High||1.1246|
|Previous Monthly Low||1.0936|
|Daily Fibonacci 38.2%||1.1067|
|Daily Fibonacci 61.8%||1.1057|
|Daily Pivot Point S1||1.1041|
|Daily Pivot Point S2||1.102|
|Daily Pivot Point S3||1.0999|
|Daily Pivot Point R1||1.1083|
|Daily Pivot Point R2||1.1104|
|Daily Pivot Point R3||1.1126|
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.