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AUD/NZD Price Analysis: Price hits support around 1.0750, exhaustion on the downside?

  • Aussie remains under pressure versus the kiwi as AUD/NZD drops back below 1.0800.
  • Bearish bias in the cross remains intact, exhaustion signs emerge favouring some consolidation ahead.

The AUD/NZD continues to move with a bearish bias, but it has reached a strong support in the 1.0730/50 band. A break lower could trigger more losses, exposing 1.0700.

The decline of the cross has reached a strong resistance and also some technical indicators warn about some exhaustion, increasing the odds of a consolidation ahead.

In case of a consolidation, AUD/NZD could move between 1.0750 and 1.0850. The 20-day moving average at 1.0860 is a level to watch and above, around 1.0900, several short-term downtrend lines are seen. A close above 1.0860 would alleviate the bearish p4essure, and a break of 1.0900 would change the short-term bias to bullish.

AUD/NZD daily chart

audnzd

AUD/NZD

Overview
Today last price1.0773
Today Daily Change0.0016
Today Daily Change %0.15
Today daily open1.0757
 
Trends
Daily SMA201.0868
Daily SMA501.0845
Daily SMA1001.077
Daily SMA2001.0589
 
Levels
Previous Daily High1.0853
Previous Daily Low1.075
Previous Weekly High1.0935
Previous Weekly Low1.0765
Previous Monthly High1.1045
Previous Monthly Low1.0716
Daily Fibonacci 38.2%1.0789
Daily Fibonacci 61.8%1.0814
Daily Pivot Point S11.072
Daily Pivot Point S21.0683
Daily Pivot Point S31.0617
Daily Pivot Point R11.0823
Daily Pivot Point R21.089
Daily Pivot Point R31.0926

Author

Matías Salord

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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