AUD/NZD Price Analysis: Bulls step in and target 61.8% golden ratio

AUD/NZD is correcting the recent bearish daily impulse.
Bulls will be on the lookout for resistance to target, namely in the 61.8% ratio.

Ross J Burland FXStreet

AUD/NZD is stalling on the downside as the kiwi gives back some ground that had been gained following the labour data surprise and dialled up risks of the Reserve Bank of New Zealand hiking interest rates at a faster pace as firstly anticipated. The following illustrates the prospects of an upside corrector price t the next downside leg.

AUD/NZD daily chart

The price has found demand in what has been a strong sell-off prior to the support on the daily chart. This leaves prospects of a significant correction to target the 61.8% Fibonacci retracement level near 1.10480 in the coming days.

Additionally, as extra conviction, the price has left a reversion pattern in the form of an M-formation as follows:

An M-formation has a high probability rate of the price reaching the neckline of the pattern and this has a confluence with the golden ratio. Therefore, this would be expected to act as resistance on a restest by the bulls and lead to a downside continuation.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD: US Dollar comeback in the makes?

The US Dollar stands victorious at the end of another week, with the EUR/USD pair trading near a four-week low of 1.1742, while the USD retains its strength despite some discouraging American data released at the end of the week. The pair edged higher on Friday, after the United States Supreme Court ruled against President Donald Trump's tariffs, although the advance is not enough to change the latest USD flow.

GBP/USD braces for more pain, as 200-day SMA tested

GBP/USD broke the previous week’s consolidation to the downside, as sellers returned with pomp, smashing the major back toward the levels last seen in late January. The pair tested bids below the 1.3450 barrier as the US Dollar strength largely played out throughout the week, while the Pound Sterling stepped back on expectations of divergent monetary policy outlooks between the Bank of England and the US Federal Reserve.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.

Week ahead: Markets brace for heightened volatility as event risk dominates

Dollar strength dominates markets as risk appetite remains subdued. A Supreme Court ruling, geopolitics and Fed developments are in focus. Pivotal Nvidia earnings on Wednesday as investors question tech sector weakness. Yen and aussie diverge; both pound and euro could recoup their losses.

Broadening drivers of growth: Unpacking GDP and looking ahead

This week’s data delivered a familiar theme with an important twist. The U.S. economy continues to be shaped by powerful forces in high-tech and AI-related investment, but recent releases suggest the growth story may finally be broadening. At the same time, trade flows are moving in a less supportive direction, reminding us that not all parts of the economy are pulling in sync.

Ripple bulls defend key support amid waning retail demand and ETF inflows

XRP ticks up above $1.40 support, but waning retail demand suggests caution. XRP attracts $4 million in spot ETF inflows on Thursday, signaling renewed institutional investor interest.