AUD/NZD Price Analysis: Swings in between 21-day and 50-day SMA confluence

AUD/NZD edges higher on Tuesday in the Asian trading hours.
The cross-currency pair faces a resistance barrier near 1.0500.
The Momentum oscillator holds above the midline, which indicates underlying bullish sentiment.

Rekha Chauhan Independent Analyst

AUD/NZD fails to sustain the previous session’s gains on Tuesday. The cross-currency pair stayed in a narrow trade band with an upside bias. At the time of writing, AUD/NZD is trading at 1.0458, up 0.06% for the day.

AUD/NZD daily chart

On the daily chart, the AUD/NZD cross-currency pair has been under selling pressure after testing high above 1.0615 on October, 12. The downside took a breather near the 50-day Simple Moving Average (SMA) at 1.0429.

A successful daily close above the 21-day Simple Moving Average (SMA) at 1.0488 would mean the 1.0550 horizontal resistance level for the spot.

The Moving Average Convergence (MACD) trades above the midline. Any uptick in the MACD suggests the possibility of the high made on October, 14 at 1.0610. Further, a close above the October, 12 high would bring the levels last seen in July back into action at the 1.0650 horizontal resistance zone.
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Alternatively, if the price moves lower, it would first retest the 50-day SMA at 1.0436. Next, on the bear’s radar will be the 1.0380 horizontal support level and then September, 27 low of 1.0334.

AUD/NZD additional levels

AUD/NZD

Overview
Today last price	1.0468
Today Daily Change	0.0009
Today Daily Change %	0.09
Today daily open	1.0459

Trends
Daily SMA20	1.049
Daily SMA50	1.043
Daily SMA100	1.0538
Daily SMA200	1.0649

Levels
Previous Daily High	1.0494
Previous Daily Low	1.0434
Previous Weekly High	1.0497
Previous Weekly Low	1.0399
Previous Monthly High	1.0489
Previous Monthly Low	1.0278
Daily Fibonacci 38.2%	1.0471
Daily Fibonacci 61.8%	1.0457
Daily Pivot Point S1	1.0431
Daily Pivot Point S2	1.0403
Daily Pivot Point S3	1.0372
Daily Pivot Point R1	1.049
Daily Pivot Point R2	1.0522
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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