AUD/NZD Technical Analysis: Bullish outlook, eyes on 1.0700

The AUD/NZD pair kept rising last week from multi-year intraday lows and today reached at 1.0670, the highest in early December.
The short—term outlook continues to point to the upside. Above 1.0660 the next target is 1.0680 and above a test of 1.0700 seems likely. On top of 1.0700 not much resistance is seen until 1.0800.
A critical support for the bullish outlook is hte 20-day moving average at 1.0550; it turned last week to the upside and is approaching the 55-day MA from the downside.
The key support continues to be 1.0450: a daily close significantly below would open the doors to another leg lower.
Key events ahead: NZ CPI on Wednesday (22:45 GMT) and AU Employment on Thursday (00:30 GMT).

Matías Salord FXStreet

AUD/NZD Daily chart

AUD/NZD

Overview:
    Today Last Price: 1.0639
    Today Daily change: 0.0006 pips
    Today Daily change %: 0.06%
    Today Daily Open: 1.0633
Trends:
    Daily SMA20: 1.0542
    Daily SMA50: 1.0569
    Daily SMA100: 1.0725
    Daily SMA200: 1.0788
Levels:
    Previous Daily High: 1.0653
    Previous Daily Low: 1.0603
    Previous Weekly High: 1.0653
    Previous Weekly Low: 1.0487
    Previous Monthly High: 1.0674
    Previous Monthly Low: 1.0408
    Daily Fibonacci 38.2%: 1.0623
    Daily Fibonacci 61.8%: 1.0634
    Daily Pivot Point S1: 1.0607
    Daily Pivot Point S2: 1.058
    Daily Pivot Point S3: 1.0557
    Daily Pivot Point R1: 1.0657
    Daily Pivot Point R2: 1.068
    Daily Pivot Point R3: 1.0706

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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