- The kiwi resumed the upside after a brief pause on Friday.
- AUD/NZD bearish bias intact, testing key support around 1.0630.
The AUD/NZD pair consolidated under 1.0700, reflecting the strength of the bearish move. On Monday, it bottomed at 1.0636, the lowest level in almost three months.
AUD/NZD tested levels near 1.0630 that is the next critical support; the confluence of a horizontal level and the 200-day moving average. A break lower would clear the way for a test of 1.0600. The next support stands at 1.0580.
A rebound in AUD/NZD to 1.0730 should not be ruled out and would be seen as a correction. If the aussie manages to rise above 1.0770, it could remove the bearish bias.
AUD/NZD daily chart
|Today last price||1.0653|
|Today Daily Change||-0.0017|
|Today Daily Change %||-0.16|
|Today daily open||1.067|
|Previous Daily High||1.0691|
|Previous Daily Low||1.0652|
|Previous Weekly High||1.0734|
|Previous Weekly Low||1.0643|
|Previous Monthly High||1.0966|
|Previous Monthly Low||1.0712|
|Daily Fibonacci 38.2%||1.0676|
|Daily Fibonacci 61.8%||1.0667|
|Daily Pivot Point S1||1.0651|
|Daily Pivot Point S2||1.0632|
|Daily Pivot Point S3||1.0613|
|Daily Pivot Point R1||1.069|
|Daily Pivot Point R2||1.0709|
|Daily Pivot Point R3||1.0728|
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