AUD/NZD Price Analysis: More downside below 100-day SMA near 1.0550


  • AUD/NZD edges lower on Friday in the Asian trading hours.
  • Upside momentum recedes upon reaching 1.0600.
  • Momentum oscillators hold onto the overbought zone warn caution.

AUD/NZD is on the verge to erase weekly gains on Friday. The cross-currency pair confides in a narrow trade band with no meaningful traction. At the time of writing, AUD/NZD is trading at 1.0535, down 0.03% for the day.

AUD/NZD daily chart

On the daily chart, the AUD/NZD pair has been under selling pressure after testing multi-month highs above 1.0600 on Wednesday. Now, the pair retreats below the 100-day Simple Moving Average (SMA) at 1.0550.

Having said that, if the price breaks the intraday low, it could test the 1.0500 horizontal support level. Now, a break beneath the ascending trendline from the lows of 1.0278 would prompt bears to capture the 1.0450 horizontal support area. Overbought Moving Average Convergence (MACD)  suggests the possibility of the key 1.0400 level.

Alternatively, if the price moves higher manages to scale up beyond 100-day SMA,  it could retest the 1.0590 horizontal resistance level followed by this Wednesday’s high at 1.0615. Next, AUD/NZD bulls would testify to the 1.0650 horizontal resistance level.

AUD/NZD additional levels

AUD/NZD

Overview
Today last price 1.0536
Today Daily Change -0.0003
Today Daily Change % -0.03
Today daily open 1.0539
 
Trends
Daily SMA20 1.045
Daily SMA50 1.0433
Daily SMA100 1.0555
Daily SMA200 1.066
 
Levels
Previous Daily High 1.061
Previous Daily Low 1.0532
Previous Weekly High 1.0589
Previous Weekly Low 1.0431
Previous Monthly High 1.0489
Previous Monthly Low 1.0278
Daily Fibonacci 38.2% 1.0562
Daily Fibonacci 61.8% 1.058
Daily Pivot Point S1 1.051
Daily Pivot Point S2 1.0482
Daily Pivot Point S3 1.0431
Daily Pivot Point R1 1.0589
Daily Pivot Point R2 1.0639
Daily Pivot Point R3 1.0667

 

 

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 slides under 1.16 as US Retail Sales smash estimates

EUR/USD is trading under 1.16 after US Retail Sales smashed estimates with 0.7% in September. Treasury yields are rising. The risk-on mood continues to underpin the pair, as the ECB policymaker Wunsch dismisses inflation concerns. 

EUR/USD News

GBP/USD retreats below 1.3750 after US data

GBP/USD has pared some of its gains after US Retail Sales beat estimates, with the core group hitting 0.8% last month. Earlier, investors shrugged off dovish comments from two BOE members. 

GBP/USD News

XAU/USD slumps to $1,770 area on upbeat US data, surging US bond yields

Gold started the last day of the week on the back foot and extended its slide to a fresh daily low of $1,770 in the early trading hours of the American session pressured by the dollar's resilience and surging US Treasury bond yields.

Gold News

Crypto bulls on winning streak pushing for more

Bitcoin price favors bulls reaching $60,000 by the end of this week and onwards to new all-time highs by the end of next week. Ethereum price broke a bearish top line and could hit new all-time highs by next week in tandem with Bitcoin. 

Read more

Why is Tesla going up?

Tesla's (TSLA) stock price has finally pushed higher in a series of steady and sure moves. We had nearly given up on our bullish call with Tesla stock as it kept struggling around the $800 level.

Read more

Forex MAJORS

Cryptocurrencies

Signatures