AUD/NZD Technical Analysis: Sustained break of 200-day SMA can escalate recent rally towards 1.0755/65 resistance area

Anil Panchal FXStreet

AUD/NZD is at the highest levels since late-November as it trades around 1.0685 during the early Asian session on Wednesday.

The pair crossed 200-day simple moving average (SMA) after New Zealand CPI for the first quarter (Q1) 2019 lagged behind 0.3% and 1.7% market consensus on QoQ and YoY basis to 0.1% and 1.5% respectively.

The quote now needs to hold its break beyond 1.0685 figure in order to aim for 1.0755/65 area including late-2018 highs.

Should buyers dominate beyond 1.0765, 1.0800, 1.0840 and 1.0885 are likely following numbers to appear on the chart.

Alternatively, failure to hold recent rally and a dip beneath January month high near 1.0670 can recall 61.8% Fibonacci retracement of it's August 2018 to January 2019 downpour, at 1.0600.

During the pair’s additional declines under 1.0600, 1.0530, 1.0500 and 100-day SMA level of 1.0485 may gain bears’ attention.

AUD/NZD daily chart

Trend: Positive

Additional important levels

Overview
Today last price	1.0686
Today Daily Change	81 pips
Today Daily Change %	0.76
Today daily open	1.0605

Trends
Daily SMA20	1.0461
Daily SMA50	1.0433
Daily SMA100	1.0486
Daily SMA200	1.0685

Levels
Previous Daily High	1.0623
Previous Daily Low	1.0581
Previous Weekly High	1.0628
Previous Weekly Low	1.0532
Previous Monthly High	1.0455
Previous Monthly Low	1.0274
Daily Fibonacci 38.2%	1.0597
Daily Fibonacci 61.8%	1.0607
Daily Pivot Point S1	1.0583
Daily Pivot Point S2	1.0561
Daily Pivot Point S3	1.054
Daily Pivot Point R1	1.0625
Daily Pivot Point R2	1.0646
Daily Pivot Point R3	1.0668

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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