- The AUD/NZD is down 0.8% on the week as the Aussie backslides.
- The Aussie sees six-week lows against the Kiwi.
- The next target for sellers will be 1.0600.
The AUD/NZD is down five-tenths of a percent from Monday’s opening bids near 1.0875, and the Aussie (AUD) is positioned to be the biggest currency loser of the week, in the red against every other major currency. The Kiwi (NZD) is in a tight race for second place, likewise shedding value across the major currency board, but isn’t able to keep up with the AUD’s declines.
Intraday action sees the AUD/NZD capped by the 50-hour Simple Moving Average (SMA) descending from the 1.0700 handle, with the 200-hour SMA pushing down through 1.0760, and level the AUD/NZD saw a rejection from at the start of the trading week.
The Aussie has closed lower for four of the last six trading sessions, and the near-term floor on bearish momentum will be a support zone priced in from 1.0625 to 1.0650, from early October’s swing low in the price region.
The long-term 200-day SMA continues to drift into the 1.0800 handle, establishing a midrange that the AUD/NZD has cycled around for much of 2023.
Australian Dollar price this week
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies this week. Australian Dollar was the strongest against the New Zealand Dollar.
USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
USD | 1.10% | 1.19% | 0.77% | 1.99% | 0.56% | 1.21% | 0.78% | |
EUR | -1.12% | 0.11% | -0.33% | 0.91% | -0.56% | 0.13% | -0.32% | |
GBP | -1.24% | -0.10% | -0.29% | 0.81% | -0.65% | 0.01% | -0.42% | |
CAD | -0.77% | 0.34% | 0.44% | 1.25% | -0.22% | 0.46% | 0.02% | |
AUD | -2.04% | -0.92% | -0.81% | -1.24% | -1.48% | -0.79% | -1.26% | |
JPY | -0.60% | 0.57% | 0.81% | 0.24% | 1.49% | 0.69% | 0.22% | |
NZD | -1.22% | -0.11% | -0.01% | -0.44% | 0.79% | -0.66% | -0.43% | |
CHF | -0.80% | 0.32% | 0.42% | -0.01% | 1.24% | -0.21% | 0.43% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
AUD/NZD Hourly Chart
AUD/NZD Daily Chart
AUD/NZD Technical Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.