AUD/NZD Technical Analysis: Next target at 1.0680, if RBNZ allows it

The kiwi rose sharply across the board during the Asian session. Later a stronger AUD limited the slide of the pair. RBNZ decision in a few minutes likely to move NZD.
The AUD/NZD pair consolidated losses and posted the lowest daily close since June, singling that more losses could be seen, if RBNZ does not surprise on the dovish side. Potential targets are seen at 1.0690 and 1.0655.
The current trend is bearish and a rally to 1.0800 would be seen as corrective. A break above 1.0850 (20-day moving average) and 1.0880 would invalidate the perspective and favor a consolidation and a potential recovery to 1.1000.

Matías Salord FXStreet

AUD/NZD Daily chart

Spot rate: 1.0721
High: 1.0765
Low: 1.0715

Resistance 1: 1.0750
Resistance 2: 1.0795
Resistance 3: 1.0845

Support 1: 1.0680
Support 2: 1.0655
Support 3: 1.0610

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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