AUD/NZD Price Analysis: Sellers keep their eyes on 1.0450

AUD/NZD embraces the previous session’s losses on Thursday.
Additional losses if pair decisively breaks 1.0460.
Momentum oscillators indicate underlying bearish sentiment.

Rekha Chauhan Independent Analyst

AUD/NZD continues to skid down on Thursday Asian’s session. The pair opened took multiple support near 1.0460 level.

At the time of writing, AUD/NZD is trading at 1.0460, down 0.09% for the day.

AUD/NZD daily chart

On the daily chart, the AUD/NZD pair has been under the selling from the high of 1.0816 made on June 11. The descending trendline act as a barrier for the bulls. The formation of a hammer candlestick pattern suggests some bounce back in the price.

A sustained move below the intraday low would bring more selling interest in the pair.

In doing so, the first lower target could be found at the previous session’s low of 1.0440.

The Moving Average Convergence Divergence (MACD) indicator trades in the oversold zone. Any downtick in the MACD would accelerate the selling toward the low of December 3, 2020, at 1.0419.

Next, AUD/NZD bears would target the 1.0364 horizontal support level.

Alternatively, if price moves higher, it would be the 1.0500 horizontal resistance level as the first upside target.

Next, the market participants will keep their eyes on the 1.0530 horizontal resistance level followed by the high of August 4 at 1.0592.

AUD/NZD additional levels

AUD/NZD

Overview
Today last price	1.0471
Today Daily Change	-0.0001
Today Daily Change %	-0.01
Today daily open	1.0472

Trends
Daily SMA20	1.0546
Daily SMA50	1.0662
Daily SMA100	1.0722
Daily SMA200	1.0703

Levels
Previous Daily High	1.0493
Previous Daily Low	1.0441
Previous Weekly High	1.0592
Previous Weekly Low	1.0458
Previous Monthly High	1.0762
Previous Monthly Low	1.0509
Daily Fibonacci 38.2%	1.0461
Daily Fibonacci 61.8%	1.0473
Daily Pivot Point S1	1.0444
Daily Pivot Point S2	1.0416
Daily Pivot Point S3	1.0391
Daily Pivot Point R1	1.0497
Daily Pivot Point R2	1.0521
Daily Pivot Point R3	1.055

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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