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

Overview
Today last price 1.0521
Today Daily Change -18 pips
Today Daily Change % -0.17%
Today daily open 1.0539
 
Trends
Daily SMA20 1.0568
Daily SMA50 1.0588
Daily SMA100 1.0504
Daily SMA200 1.061
Levels
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

 

 

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