AUD/NZD Price Analysis: Bulls struggle near-critical resistance at 1.0590


  • AUD/NZD locks gains on Wednesday in the Asain trading session.
  • Cross hangs near multi-day resistance, additional gains above  1.0600.
  • Momentum oscillators indicate underlying bearish sentiment.

AUD/NZD gains handsome gains on Wednesday after two day’s consolidation on Wednesday.

At the time of writing, AUD/NZD is trading at 1.0589, up 0.01% for the day.

AUD/NZD 4-hour chart

On the 4-hour chart, the AUD/NZD pair has been trading above the 50-day Simple Moving Average (SMA) near 1.0572. 

A  sustained move above the intraday low high would bring more buying opportunities.. 

In doing so, the first lower higher is found at the 1.0602  horizontal support level.

The Moving Average Convergence Divergence (MACD) indicator trades below the midline with a bullish crossover.  Any uptick in the MACD would accelerate the buying pressure toward July 22 high in the vicinity of 1.0620

Alternatively, if price moves lower, it would retest the 50-day Simple Moving Average at 1.0572, Further, AUD/NZD bears would aim for the previous day’s low at 1.0555.
Market Participants will keep their eyes on the 1.0540 horizontal resistance level.

AUD/NZD addiioanl levels

AUD/NZD

Overview
Today last price 1.0589
Today Daily Change 0.0001
Today Daily Change % 0.01
Today daily open 1.0588
 
Trends
Daily SMA20 1.0646
Daily SMA50 1.0703
Daily SMA100 1.0754
Daily SMA200 1.071
 
Levels
Previous Daily High 1.0601
Previous Daily Low 1.054
Previous Weekly High 1.0616
Previous Weekly Low 1.0539
Previous Monthly High 1.0817
Previous Monthly Low 1.0622
Daily Fibonacci 38.2% 1.0578
Daily Fibonacci 61.8% 1.0563
Daily Pivot Point S1 1.0552
Daily Pivot Point S2 1.0516
Daily Pivot Point S3 1.0492
Daily Pivot Point R1 1.0613
Daily Pivot Point R2 1.0637
Daily Pivot Point R3 1.0673

 

 


 

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