AUD/NZD Price Analysis: More downside below 21-day SMA near 1.0465

AUD/NZD edges lower on Monday in the Asian trading hours.
Kiwi gains momentum against majors post-CPI data.
The Momentum oscillator holds onto the overbought zone with receding momentum.

Rekha Chauhan Independent Analyst

AUD/NZD extends the previous week’s downside momentum on Monday in the initial Asian trading hours. The cross-currency pair opens the session higher but fails to sustain the momentum. At the time of writing, AUD/NZD is trading at 1.0473, down 0.27% 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. The downside momentum catches further momentum after breaking the 100-day Simple Moving Average (SMA) at 1.0549.

Having said that, if the price breaks the 21-day SMA near 1.0465, it would test the 1.0450 horizontal support level. Overbought Moving Average Convergence (MACD) suggests the possibility of the September 29 low of 1.0397 followed by the 1.0365 horizontal support level.

Alternatively, if the price moves higher, it would first retest the 1.0500 horizontal resistance level followed by Friday’s high at 1.0552. A successful daily close above 100-day SMA would pave the way for the psychological 1.0600 mark.

AUD/NZD additional levels

Overview
Today last price	1.0468
Today Daily Change	-0.0033
Today Daily Change %	-0.31
Today daily open	1.0501

Trends
Daily SMA20	1.0458
Daily SMA50	1.0433
Daily SMA100	1.0553
Daily SMA200	1.0659

Levels
Previous Daily High	1.0553
Previous Daily Low	1.0481
Previous Weekly High	1.0615
Previous Weekly Low	1.0481
Previous Monthly High	1.0489
Previous Monthly Low	1.0278
Daily Fibonacci 38.2%	1.0508
Daily Fibonacci 61.8%	1.0525
Daily Pivot Point S1	1.047
Daily Pivot Point S2	1.0439
Daily Pivot Point S3	1.0398
Daily Pivot Point R1	1.0542
Daily Pivot Point R2	1.0584
Daily Pivot Point R3	1.0614

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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