• AUD/NZD extends the previous day’s decline on Friday.
  • Bulls need to breach the 1.0780 mark to gain control.
  • Momentum oscillator holds onto the positive territory.

AUD/NZD treads water in the Asian session. The pair opened at the higher level, albeit fizzling out rather quickly to touch the swing low at 1.0767. 
As of writing, the AUD/NZD was seen trading at 1.0780 with 0.1% losses.

AUD/NZD daily chart

On the daily chart, the AUD/NZD has been consolidating near the 1.0780 mark with multiple support formations. The downward trendline from the high of 1.0947 acts as a strong resistance barrier for the bulls.

A sustained move above the 1.0780 mark could push AUD/NZD higher towards the previous day’s high at 1.0805, which also coincides with the bearish sloping line.

The next area of resistance would be located at the June 11 high at 1.0816.

The Moving Average Convergence Divergence (MACD) indicator reads above the midline, with bullish crossover. The reading signifies underlying bullish sentiment.

AUD/NZD bulls would keep their eye on the 1.0825 horizontal resistance level.

Alternatively, any downtick in the MACD could invalid the previous price set up. The cross could test the 1.0765 horizontal support level followed by the June 9 low at 1.0742.

Market participants then move toward the 20-day Simple Moving Average (SMA) at 1.0730.

AUD/NZD additional levels

AUD/NZD

Overview
Today last price 1.0782
Today Daily Change -0.0003
Today Daily Change % -0.03
Today daily open 1.0785
 
Trends
Daily SMA20 1.0729
Daily SMA50 1.0759
Daily SMA100 1.0763
Daily SMA200 1.0728
 
Levels
Previous Daily High 1.0805
Previous Daily Low 1.0744
Previous Weekly High 1.0817
Previous Weekly Low 1.0714
Previous Monthly High 1.0851
Previous Monthly Low 1.06
Daily Fibonacci 38.2% 1.0767
Daily Fibonacci 61.8% 1.0782
Daily Pivot Point S1 1.075
Daily Pivot Point S2 1.0716
Daily Pivot Point S3 1.0689
Daily Pivot Point R1 1.0812
Daily Pivot Point R2 1.084
Daily Pivot Point R3 1.0874

 

 

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