- The AUD/NZD pair remains in a descendant channel with a bearish bias and currently supported by 1.0440.
- Last week recovery has been erased and now, it points to some consolidation before another test of the area around 1.0440.
Yesterday and on Monday, the recovery of AUD/NZD was capped by the 55-day simple moving average that stands near 1.0550, also a horizontal support and is near the upper limit of the bearish channel. So the critical level for bulls to watch is 1.0550/65: a daily close on top would remove the current bias, favoring more gains ahead.
The area around 1.0440 is likely to keep losses limited. A break lower could signal more losses. The next strong support emerges around 1.0400, a psychological level and the lower bottom of the channel.
AUD/NZD Daily Chart
|Today last price||1.0467|
|Today Daily Change||-0.0006|
|Today Daily Change %||-0.06|
|Today daily open||1.0473|
|Previous Daily High||1.0554|
|Previous Daily Low||1.0459|
|Previous Weekly High||1.055|
|Previous Weekly Low||1.0426|
|Previous Monthly High||1.0628|
|Previous Monthly Low||1.0434|
|Daily Fibonacci 38.2%||1.0495|
|Daily Fibonacci 61.8%||1.0518|
|Daily Pivot Point S1||1.0437|
|Daily Pivot Point S2||1.04|
|Daily Pivot Point S3||1.0342|
|Daily Pivot Point R1||1.0532|
|Daily Pivot Point R2||1.059|
|Daily Pivot Point R3||1.0627|
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