AUD/NZD Price Analysis: Bulls face resistance near 1.0730


  • AUD/NZD remains muted in the Asian session on Friday.
  • Cross seeks additional gains above 20-hour SMA.
  • MACD in oversold zone throws caution on aggressive bids.

The AUD/NZD price trades cautiously in the Asian trading hours. The cross confides its move in a narrow trading band.

At the time of writing, AUD/NZD trades at 1.0715, up 0.05% for the day.

AUD/NZD daily chart

On the daily chart, the AUD/NZD cross-currency pair faces stiff resistance near the 1.0730 mark. The pair moved in a broader range of 1.0710-1.0780 inside a rectangle formation with a single day breakout on May 26. The cross touched the multi-month low near 1.0590. However, AUD/NZD rallied back to the 1.0730 level in the previous seven sessions.

If prices make a sustained move above the 20-hour Simple Moving Average (SMA) at 1.0727, which also coincides with the session’s high, then it could touch the 1.0750 horizontal resistance level followed by the high of May 25 in the vicinity of the 1.0765 area.

The Moving Average Convergence Divergence (MACD) trades on oversold zone with a bullish crossover. The stretched selling conditions signal underlying upside momentum. In doing so, AUD/NZD bulls could attack at the upper rectangle level at 1.0800.

Alternatively, any downtick in MACD could make more downward movement near to the previous day’s low at 1.0691 followed by the low of June 2 at 1.0670.

Next, market participants would aim for the 1.0650 horizontal support level. 

AUD/NZD Additional Levels

AUD/NZD

Overview
Today last price 1.072
Today Daily Change 0.0009
Today Daily Change % 0.08
Today daily open 1.0711
 
Trends
Daily SMA20 1.0733
Daily SMA50 1.0782
Daily SMA100 1.0762
Daily SMA200 1.0735
 
Levels
Previous Daily High 1.0721
Previous Daily Low 1.067
Previous Weekly High 1.0799
Previous Weekly Low 1.06
Previous Monthly High 1.0851
Previous Monthly Low 1.06
Daily Fibonacci 38.2% 1.0702
Daily Fibonacci 61.8% 1.069
Daily Pivot Point S1 1.068
Daily Pivot Point S2 1.0649
Daily Pivot Point S3 1.0629
Daily Pivot Point R1 1.0732
Daily Pivot Point R2 1.0752
Daily Pivot Point R3 1.0783

 

 

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

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD bulls hang in there in slower pace Asia, Evergrande digested

EUR/USD is flat in a quiet Asian session following a turbulent start to the week. At the time of writing, EUR/USD is trading at 1.1728 between 1.1725 and 1.1731. Forex markets were quite contained given the scale of equity losses on the back of the Evergrande news. 

EUR/USD News

GBP/USD: Upside needs validation above 1.3670

GBP/USD takes a breather after the previous session’s heavy sell-off. The pair dropped below 1.3650 in a more than 100-pips movement. At the time of writing, GBP/USD is trading at 1.3660, up 0.03% for the day.

GBP/USD News

EUR/USD bulls hang in there in slower pace Asia, Evergrande digested

EUR/USD is flat in a quiet Asian session following a turbulent start to the week. At the time of writing, EUR/USD is trading at 1.1728 between 1.1725 and 1.1731. Forex markets were quite contained given the scale of equity losses on the back of the Evergrande news. 

EUR/USD News

Solana bulls panic selling could push SOL price sub -$100

Solana price makes new fourteen-day lows. Solana price has been on one wild ride since Friday. Major whipsaws in price action have generated uncertainty on both sides of the market. Bulls are likely trapped between $150 and $171.

Read more

The wrong question on Evergrande

The 3rd week of September keeps up with its negative seasonality as one of the worst weeks of the year amid surging fears of Fed taper and Evergrande.

Read more

Forex MAJORS

Cryptocurrencies

Signatures