AUD/NZD slips into new lows, aiming for 1.0800, Aussie manufacturing PMI slides

AUD/NZD is seeing extended declines, continuing Wednesday's backslide.
Aussie is reaching lower against the Kiwi, down 0.95% for the week.
Australian PMI figures came in mixed with manufacturing seeing further declines.

Joshua Gibson FXStreet

The AUD/NZD has broken out of recent consolidation on the weak side, and the pair shrugged off a mixed trade balance printing from New Zealand (NZ) as markets focus on weakened manufacturing figures from the Australian Purchasing Manager Index (PMI) printing.

New Zealand Trade Balance came in mixed for August, NZD/USD remains flat above 0.5900

Australian PMI figures came in mixed, with the services component seeing a minor bump into 50.5 from 47.8, but weak spots in the manufacturing component are keeping the Aussie (AUD) on the weak side, with the Manufacturing PMI declining further to 48.2 from 49.6.

AUD/NZD technical outlook

The Aussie-Kiwi pair has tumbled into the 200-day Simple Moving Average currently capping off prices near 1.0820.

Continued declines will see the pair testing August's early lows near 1.0720, while a bullish recovery will see the AUD/NZD challenging the recent swing high into 1.0920.

AUD/NZD daily chart

AUD/NZD technical outlook

AUD/NZD

Overview
Today last price	1.0808
Today Daily Change	-0.0068
Today Daily Change %	-0.63
Today daily open	1.0876

Trends
Daily SMA20	1.0866
Daily SMA50	1.0838
Daily SMA100	1.0828
Daily SMA200	1.0818

Levels
Previous Daily High	1.0892
Previous Daily Low	1.0855
Previous Weekly High	1.0919
Previous Weekly Low	1.0825
Previous Monthly High	1.0897
Previous Monthly Low	1.0732
Daily Fibonacci 38.2%	1.0878
Daily Fibonacci 61.8%	1.0869
Daily Pivot Point S1	1.0857
Daily Pivot Point S2	1.0837
Daily Pivot Point S3	1.082
Daily Pivot Point R1	1.0894
Daily Pivot Point R2	1.0911
Daily Pivot Point R3	1.0931

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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