AUD/NZD Price Analysis: Bulls remain depressed below 1.0800


  • AUD/NZD remains muted in the Asian session.
  • The cross is under pressure after touching the high of 1.0816.
  • Momentum oscillator tilts in favor of bears.

The AUD/NZD price edges lower on Wednesday morning in the Asian session. The cross-currency pair extends the previous session’s decline and holds onto the losses.

At the time of writing, AUD/NZD trades at 1.0788, down 0.06% for the day.

AUD/NZD daily chart

On the daily chart, the pair has been consolidating near the 1.0800 mark. The descending trendline from the high of 1.0927 acts as a barrier for the bulls.

If the price breaks the intraday low, then it could instill more selling opportunities in the pair with the first target in place at the 50-day Simple Moving Average (SMA) at 1.0760. The next on the bear's radar would be the 1.0740 horizontal support level.

The Relative Strength Index (RSI) trades below 50, which signifies the downside momentum in the pair. In doing so, the price action would be seen approaching the 1.0725 horizontal support level.

Alternatively, if the price moves to the upside, then AUD/NZD could retest the high of June 11 in the vicinity of the 1.0820 area. This would also coincide with the bearish sloping line.

Above this area, the bulls would attempt to recoup the levels last seen in April. The pair would seek the high of April 19 at 1.0851.

Next, the market participants will move forward to capture the 1.0875 horizontal resistance level.

AUD/NZD additional levels

AUD/NZD

Overview
Today last price 1.0786
Today Daily Change -0.0009
Today Daily Change % -0.08
Today daily open 1.0795
 
Trends
Daily SMA20 1.0729
Daily SMA50 1.0762
Daily SMA100 1.0761
Daily SMA200 1.0729
 
Levels
Previous Daily High 1.0806
Previous Daily Low 1.0769
Previous Weekly High 1.0817
Previous Weekly Low 1.0714
Previous Monthly High 1.0851
Previous Monthly Low 1.06
Daily Fibonacci 38.2% 1.0783
Daily Fibonacci 61.8% 1.0792
Daily Pivot Point S1 1.0774
Daily Pivot Point S2 1.0753
Daily Pivot Point S3 1.0737
Daily Pivot Point R1 1.0811
Daily Pivot Point R2 1.0827
Daily Pivot Point R3 1.0848

 

 

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. 

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