AUD/NZD Price Analysis: Closer to multi-month-old support trendlines on New Zealand CPI

  • AUD/NZD drops to the fresh two-week low after New Zealand’s Q4 CPI beat estimates to the upside.
  • The upward sloping trend lines since August 2019 and the one connecting lows marked from March 2019 will restrict further declines.
  • 50-day SMA, 61.8% Fibonacci retracement will keep the near-term upside limited.

With the upbeat surprise from New Zealand’s fourth quarter (Q4) CPI pleasing New Zealand dollar buyers, AUD/NZD dropped to the fresh two-week low of 1.0337 after the data. The pair currently takes rounds to 1.0350 by the press time of early Asian morning on Friday.

As a result, the pair nears an ascending trend line stretched from August 2019, at 1.0315 now, as well as another support line connecting lows marked from March 2019, at 1.0295.

While the strength of the support lines is likely to restrict AUD/NZD declines below 1.0295, bears can target 1.0260 and 1.0220 during the declines post trend lines’ breaks.

On the upside, 1.0400 and 1.0430 can offer immediate resistance to the pair ahead of a 50-day SMA level near 1.0450.

However, pair’s upside beyond 1.0450 my find it difficult to cross 61.8% Fibonacci retracement of March-November 2019 upside, at 1.0480.

AUD/NZD daily chart

Trend: Bearish

Additional important levels

Today last price 1.035
Today Daily Change -26 pips
Today Daily Change % -0.25%
Today daily open 1.0376
Daily SMA20 1.0401
Daily SMA50 1.0462
Daily SMA100 1.0603
Daily SMA200 1.0569
Previous Daily High 1.0389
Previous Daily Low 1.0363
Previous Weekly High 1.0461
Previous Weekly Low 1.0372
Previous Monthly High 1.0545
Previous Monthly Low 1.0366
Daily Fibonacci 38.2% 1.0373
Daily Fibonacci 61.8% 1.0379
Daily Pivot Point S1 1.0363
Daily Pivot Point S2 1.035
Daily Pivot Point S3 1.0337
Daily Pivot Point R1 1.0389
Daily Pivot Point R2 1.0402
Daily Pivot Point R3 1.0415



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD slips back to low ground amid coronavirus concerns

EUR/USD is trading closer to 1.08 coronavirus headlines are weighing heavily on the market. The US dollar remains bid despite falling US yields.  Earlier, the German IFO Business Climate beat with 96.1.


GBP/USD dips below 1.29 on USD strength

GBP/USD has dipped below 1.29 as the dollar gains ground amid coronavirus headlines. The EU and the UK prepare for formal post-Brexit due to talks kicking off next week. 


Crypto market consolidates prices while crushing traders' emotions

Top 3 prices remain in range and contradict indicators pointing south. Mild "fear" sentiment is inconsistent with prices in the upper range of the upward movement. XRP may be the surprise of the week and bounce upwards for technical reasons.

Read more

Gold hits fresh multi-year tops, eyeing $1700 mark

Gold continues scaling higher amid a fresh wave of the global risk-aversion trade. Heightened fears about the economic impact of the deadly coronavirus rattled investors. Absent relevant economic data is unlikely to hinder the ongoing strong move up.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info