AUD/NZD technical analysis: 1.0500 becomes the key support confluence

  • Australian Dollar slipped across the board after Aussie employment data.
  • 100-day SMA and 50% Fibonacci retracement can question the latest declines.

Although higher than expected Aussie unemployment rate dragged the AUD/NZD pair to a three-week low, it still is left to break 1.0500 support confluence to please the bears as it takes the rounds near 1.0520 during early Thursday.

50% Fibonacci retracement of March – April upside and 100-day simple moving average (SMA) highlight 1.0500 as the crucial level to beat for the bears targeting further downside towards 1.0475 and 61.8% Fibonacci retracement level around 1.0450.

If the 14-day relative strength index (RSI), presently in the normal region between 70 and 30, refrains from disturbing the downpour below 1.0450, late-March lows around 1.0400 could come back on the chart.

Meanwhile, 38.2% Fibonacci retracement near 1.0560 and a five-week-old descending trend-line at 1.0580 can keep limiting the quote’s short-term upside.

In a case where prices rally past-1.0580, 200-day SMA level of 1.0607 and May-end tops near 1.0634 might grab the spotlight.

AUD/NZD daily chart

Trend: Pullback expected

Additional important levels

Today last price 1.0521
Today Daily Change -18 pips
Today Daily Change % -0.17%
Today daily open 1.0539
Daily SMA20 1.0568
Daily SMA50 1.0588
Daily SMA100 1.0504
Daily SMA200 1.061
Previous Daily High 1.0583
Previous Daily Low 1.053
Previous Weekly High 1.0628
Previous Weekly Low 1.0499
Previous Monthly High 1.0728
Previous Monthly Low 1.052
Daily Fibonacci 38.2% 1.055
Daily Fibonacci 61.8% 1.0563
Daily Pivot Point S1 1.0518
Daily Pivot Point S2 1.0498
Daily Pivot Point S3 1.0465
Daily Pivot Point R1 1.0572
Daily Pivot Point R2 1.0604
Daily Pivot Point R3 1.0625



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD pressured despite reported US-China trade truce

EUR/USD is trading around 1.1350, lower. Reports, later denied by China,  about a US-Sino trade truce have failed to push the price higher. German inflation and US GDP are eyed later today.


GBP/USD consolidates around 1.2700 amid contradicting comments from Johnson

GBP/USD is trading below 1.2700, little changed. Boris Johnson has committed to leaving the EU by the October deadline with or without a deal but said the chances of a no-deal are low.


USD/JPY extends the break above 108.00 on US-China trade truce news

The latest reports of a US-China trade truce triggered a renewed risk-on wave and knocked-off the Yen, with the USD/JPY pair now extending its break above the 108 handle while the focus shifts towards the US Q1 final GDP data for fresh impetus.  


Gold: Bulls show some resilience near $1400 mark, 38.2% Fibo. level

Given that the commodity has already found acceptance below 100-hour SMA for the first time in over a week or so, a follow-through selling will set the stage for an extension of the recent corrective slide from multi-year tops set on Tuesday.

Gold News

Technical levels cryptos must recapture to resume the bullish rally after correcting

Cryptocurrencies have finally corrected some of their massive gains – a natural phenomenos in all financial markets. The rally has been partially inspired by Facebook's entry into the blockchain world with its Libra project.

Read more