AUD/NZD Price Analysis: Getting ready to extend gains above 1.0900


  • Kiwi under pressure amid new COVID-19 cases in New Zealand, ahead of RBNZ.
  • AUD/NZD testing level above critical medium-term resistance at 1.0850.

The AUD/NZD pair is trading above a long-term resistance located around the 1.0850 area. It traded above several times last year and back in June but it failed to consolidate above. It is trading back above, with technical supporting more gains. However, volatile events ahead, like the RBNZ meeting, could trigger unexpected moves.

A daily close above 1.0850 would suggest more gains ahead targeting 1.0910 and above 1.0955. A weekly close cleary above 1.0850 would point to another leg higher over the medium term.

If over the next sessions, AUD/NZD retreats below 1.0810 it would have failed again to break the key resistance, and should drop further to test 1.0750/60 (uptrend line and horizontal level). A break below 1.0750, should weaken the aussie further.

 

AUD/NZD daily chart

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AUD/NZD

Overview
Today last price 1.0882
Today Daily Change 0.0035
Today Daily Change % 0.32
Today daily open 1.0847
 
Trends
Daily SMA20 1.0742
Daily SMA50 1.0703
Daily SMA100 1.0632
Daily SMA200 1.0537
 
Levels
Previous Daily High 1.0876
Previous Daily Low 1.0823
Previous Weekly High 1.0866
Previous Weekly Low 1.0716
Previous Monthly High 1.0802
Previous Monthly Low 1.0559
Daily Fibonacci 38.2% 1.0856
Daily Fibonacci 61.8% 1.0843
Daily Pivot Point S1 1.0821
Daily Pivot Point S2 1.0796
Daily Pivot Point S3 1.0768
Daily Pivot Point R1 1.0874
Daily Pivot Point R2 1.0902
Daily Pivot Point R3 1.0928

 

 

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