AUD/NZD Price Outlook: Aussie looking for a floor against Kiwi, slumps to 1.0780


Share:
  • The AUD/NZD has etched in a new weekly low at 1.0780 after a week of declines.
  • The Aussie's backslide comes after reaching a technical ceiling at 1.0940.
  • Buyers to be pushed to the back end for next week if they can't grab ahold of moving average barriers.

The AUD/NZD has managed to hold on for Friday, closing out the trading week close to flat on the last day after declining over 1.1% peak-to-trough from Monday's peak near 1.0900.

The pair still remains down almost 1.4% from the last meaningful swing high into 1.0945 and Aussie bidders are beginning to run out of track as the AUD/NZD rotates into a bearish technical pattern, slipping below the 200-day Simple Moving Average (SMA) and on pace to extend declines back into the last low set in October near 1.0640.

The Moving Average Convergence-Divergence (MACD) on the daily candles is confirming a bearish signal following a slow and fast moving average crossover, and a Relative Strength Index (RSI) still near the midrange but declining slowly is implying there's still room to run on the down side before hitting oversold conditions.

AUD/NZD Hourly Chart

AUD/NZD Daily Chart

AUD/NZD Technical Levels

AUD/NZD

Overview
Today last price 1.0799
Today Daily Change 0.0005
Today Daily Change % 0.05
Today daily open 1.0794
 
Trends
Daily SMA20 1.0843
Daily SMA50 1.0808
Daily SMA100 1.0816
Daily SMA200 1.0817
 
Levels
Previous Daily High 1.0844
Previous Daily Low 1.0784
Previous Weekly High 1.0944
Previous Weekly Low 1.0854
Previous Monthly High 1.093
Previous Monthly Low 1.0624
Daily Fibonacci 38.2% 1.0807
Daily Fibonacci 61.8% 1.0821
Daily Pivot Point S1 1.0771
Daily Pivot Point S2 1.0748
Daily Pivot Point S3 1.0711
Daily Pivot Point R1 1.083
Daily Pivot Point R2 1.0866
Daily Pivot Point R3 1.0889

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD consolidates gains above 1.0800, awaits Fed Minutes

EUR/USD consolidates gains above 1.0800, awaits Fed Minutes

EUR/USD is holding gains above 1.0800 early Wednesday, having hit two-week highs on Tuesday. The US Dollar remains broadly weak, despite a mixed market mood, as investors weigh Fed rate cut bets and US government shutdown risks ahead of the Fed Minutes. 

EUR/USD News

GBP/USD clings to gains above 1.2600, all eyes on FOMC Minutes

GBP/USD clings to gains above 1.2600, all eyes on FOMC Minutes

GBP/USD is holding the renewed upside above 1.2600 in early Europe on Wednesday. The pair continues to draw support from hawkish comments from BoE Governor Bailey and an extended US Dollar weakness. The focus now shifts to the Fed Minutes, BoE- and Fed-speak.

GBP/USD News

Gold buyers retain control, with eyes on Fed Minutes

Gold buyers retain control, with eyes on Fed Minutes

Gold price sits at multi-day highs near $2,030 ahead of the Fed Minutes. US Dollar stays weak with the US Treasury bond yields, despite a tepid risk tone. Gold buyers flex muscles after recapturing 21-day SMA near $2,025. RSI flips bullish.  

Gold News

Bitcoin is 23% away from ATHs, but retail is still not here, why?

Bitcoin is 23% away from ATHs, but retail is still not here, why?

Bitcoin’s journey so far has been nothing short of shocking. From ETF approval to countries warming up to crypto regulation, the crypto landscape seems to have changed quite a bit.

Read more

Lots of dovish talk going around

Lots of dovish talk going around

The conversation around lower rates has been a theme this week after US data disappointed, Canada CPI came in soft, BoE Bailey offered up dovish comments, and China slashed rates.

Read more

Forex MAJORS

Cryptocurrencies

Signatures