AUD/NZD Technical Analysis: Waiting for AU jobs data in a range

Price moving sideways, consolidating after Tuesday’s sharp decline ahead of the Australian jobs report.
Potential double bottom at 1.0860, a breakout of the neckline at the 1.0900 area targets 1.0930.
Bearish pressure likely to emerge if it drops under 1.0860; the next support is seen at 1.0825.

Matías Salord FXStreet

AUD/NZD 1-hour chart

Spot rate: 1.0890
High: 1.0903
Low: 1.0860

Trend: Sideways

Resistance 1: 1.0900
Resistance 2: 1.0925
Resistance 3: 1.0955

Support 1: 1.0860
Support 2: 1.0825
Support 3: 1.0775

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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