AUD/NZD Price Analysis: Ready to test the 200-day SMA

The kiwi resumed the upside after a brief pause on Friday.
AUD/NZD bearish bias intact, testing key support around 1.0630.

Matías Salord FXStreet

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

AUD/NZD

Overview
Today last price	1.0653
Today Daily Change	-0.0017
Today Daily Change %	-0.16
Today daily open	1.067

Trends
Daily SMA20	1.0777
Daily SMA50	1.0843
Daily SMA100	1.0779
Daily SMA200	1.0629

Levels
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

Author

Matías Salord

FXStreet

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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