AUD/NZD Price Analysis: Resumes the upside, target at 1.1080

After two days of correction lower, AUD/NZD resumes the upside.
The first target is seen at 1.1050 (near the recent top) and then 1.1080.

Matías Salord FXStreet

The AUD/NZD pair found support at 1.0930 and resumed the upside. The bullish momentum intensified with the cross gaining on Thursday over 60 pips. It is testing the daily high near 1.1020.

Above 1.1020, the aussie will likely challenge the recent top around 1.1050. it could face some resistance at 1.1035.

On a wider perspective, the bullish trend remains in place and the target is seen at the medium-term resistance area around 1.1080. If it breaks higher, a leg higher above 1.1100 should not be ruled out. The key support stands at 1.0850 (horizontal level and 20-day moving average).

AUD/NZD daily chart

AUD/NZD

Overview
Today last price	1.1016
Today Daily Change	0.0065
Today Daily Change %	0.59
Today daily open	1.0951

Trends
Daily SMA20	1.0829
Daily SMA50	1.0731
Daily SMA100	1.068
Daily SMA200	1.0542

Levels
Previous Daily High	1.0982
Previous Daily Low	1.0929
Previous Weekly High	1.0973
Previous Weekly Low	1.0807
Previous Monthly High	1.0802
Previous Monthly Low	1.0559
Daily Fibonacci 38.2%	1.0949
Daily Fibonacci 61.8%	1.0962
Daily Pivot Point S1	1.0926
Daily Pivot Point S2	1.0901
Daily Pivot Point S3	1.0873
Daily Pivot Point R1	1.0979
Daily Pivot Point R2	1.1007
Daily Pivot Point R3	1.1032

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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