AUD/NZD Price Analysis: Holding near the top, looking at 1.0800

The decision from the Reserve Bank of New Zealand triggers slide of the kiwi.
AUD/NZD jumps to highest since November and consolidates gains.

Matías Salord FXStreet

The AUD/NZD pair jumped following the RBNZ meeting breaking the 1.0690/1.0700 resistance and peaked at 1.0760 on European hours. Then it made a small correction, holding onto most of its gains, suggesting the bullish impulse remains strong.

The aussie is about to post the highest daily close since November, above April’s intraday top, leaving the door open to more gains. The next target stands at 1.0800 and above emerges the 1.0840 zone a significant resistance.

The immediate support stands at 1.0720 followed by 1.0690. The upside bias will hold while above 1.0610/20, a horizontal support band and also where the 20-day moving average stands.

AUD/NZD daily chart

AUD/NZD

Overview
Today last price	1.0762
Today Daily Change	0.0115
Today Daily Change %	1.08
Today daily open	1.0647

Trends
Daily SMA20	1.0621
Daily SMA50	1.0424
Daily SMA100	1.0416
Daily SMA200	1.0527

Levels
Previous Daily High	1.0687
Previous Daily Low	1.0615
Previous Weekly High	1.07
Previous Weekly Low	1.0577
Previous Monthly High	1.0753
Previous Monthly Low	1.0151
Daily Fibonacci 38.2%	1.0643
Daily Fibonacci 61.8%	1.0659
Daily Pivot Point S1	1.0612
Daily Pivot Point S2	1.0578
Daily Pivot Point S3	1.054
Daily Pivot Point R1	1.0684
Daily Pivot Point R2	1.0722
Daily Pivot Point R3	1.0756

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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