AUD/NZD Price Analysis: Looks for more downside below 50-day SMA

  • AUD/NZD continues to move downside with renewed selling pressure.
  • More losses possible for the pair if price decisively breaks 1.0730.
  • Momentum oscillator turns negative caution for aggressive bids.

AUD/NZD prints substantial losses on Tuesday morning in the Asian session. The pair opened on a higher note, albeit fizzled out quickly and touched the low of 1.0733.

As of writing, AUD/NZD is trading at 1.0735, down 0.28% for the day.

AUD/NZD daily chart

On the daily chart, the AUD/NZD currency pair has been facing upside pressure near the 1.0800 key psychological mark. The descending trendline from the high of 1.0948 acts as a strong resistance barrier for the pair.

 if price breaks the session’s low at 1.0731, then a potential downside toward the low of June 25  at 1.0720 can not be ruled out. This also coincides with the breaking of a 1.0725 critical level, where multiple support formations emerge.

In doing so, there is plenty of room for the pair to test the previous lower levels. The first in line would be the 1.0700 horizontal support level followed by the June 2 low in the vicinity of the  1.0650 area.

Alternatively, the 14-day Relative Strength Index (RSI) indicator reads at 50. Any uptick in the RSI could bring buyers back into action.

AUD/NZD bulls would target the 50-day Simple Moving Average (SMA) at 1.0750 while keeping an eye on the earlier day’s high at 1.0771.

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

AUD/NZD additional levels


Today last price 1.0735
Today Daily Change -0.0031
Today Daily Change % -0.29
Today daily open 1.0766
Daily SMA20 1.0756
Daily SMA50 1.075
Daily SMA100 1.0772
Daily SMA200 1.0725
Previous Daily High 1.0771
Previous Daily Low 1.0705
Previous Weekly High 1.0806
Previous Weekly Low 1.0699
Previous Monthly High 1.0851
Previous Monthly Low 1.06
Daily Fibonacci 38.2% 1.0746
Daily Fibonacci 61.8% 1.073
Daily Pivot Point S1 1.0723
Daily Pivot Point S2 1.0681
Daily Pivot Point S3 1.0657
Daily Pivot Point R1 1.079
Daily Pivot Point R2 1.0814
Daily Pivot Point R3 1.0856



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Indecisive above 1.1700 as Fed tapering looms

EUR/USD retreats towards 1.1700, teasing monthly low for third straight day. Market sentiment improves over Evergrande, US debt limit extension. ECB policymakers cite inflation risks. Fed remains in focus, as it is expected to provide hints on tapering timing.


GBP/USD remains defensive near 1.3650 amid steady USD, Fed eyed

GBP/USD trades virtually unchanged around 1.3650 following the footprint of the previous session. Supply-chain bottlenecks, higher gas prices limited gains for sterling. US dollar remains elevated near 92.30 ahead of the Fed decision.


Gold sees elusive recovery toward $1,780, Fed eyed

Gold prices print minute gains on Wednesday and lack conviction to break $1,780 convincingly due to a sudden uptick in the greenback following a show from the Bank of Japan (BOJ). FOMC volatility, improved risk sentiment exert pressure on the higher side.

Gold News

Dogecoin price heads south toward $0.10, DOGE bulls show little opposition

Dogecoin price action points to a continuation of the downside pressure it has experienced over the last month. Little supportive price action exists as bulls continue to disappear and fade away. Doge continues to drift lower as bears maintain a relentless assault against the bulls.

Read more

Fed Preview: Three ways in which Powell could down the dollar, and none is the dot-plot

No taper now, but when? That is the main question investors have for the Federal Reserve in its all-important September meeting. The bank buys $120 billion worth of bonds every month and it is set to reduce the pace at some point.

Read more