- AUD/NZD extends previous session’s declines on Friday.
- The cross-currency pair faces a resistance barrier near 1.0500.
- MACD holds above the midline with neutral stance
AUD/NZD edges lower on the last trading day of the week in the Asian trading session. The cross-currency pair stayed in a narrow trade band amid upbeat Australian Retail Sales data. At the time of writing, AUD/NZD is trading at 1.0472, down 0.04% for the day.
AUD/NZD daily chart
-637710657362709784.png)
On the daily chart, the AUD/NZD cross-currency pair has been under selling pressure after testing high at 1.0615 on October 12. The downside in the pair took a breather near the 50-day Simple Moving Average (SMA) at 1.0421. AUD/NZD spots a short term trading range of 1.0428 and 1.0490 around 21-day and 50-day SMAs confluence.
A successful daily close above the 21-day SMA at 1.0494 would mean the 1.0525 horizontal resistance level for the spot.
The Moving Average Convergence (MACD) trades above the midline. Any uptick in the MACD suggests the possibility of the 1.0575 horizontal resistance zone, followed by the high of October 13 at 1.0615.
.
Alternatively, if the price moves lower, it would first retest Wednesday’s low of 1.0445. Next, a daily close below the 50-day SMA could bring the 1.0400 horizontal support zone and one-month low of 1.0375 (September 28) back into picture.
AUD/NZD additional levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD extends recovery beyond 1.0400 amid Wall Street's turnaround
EUR/USD extends its recovery beyond 1.0400, helped by the better performance of Wall Street and softer-than-anticipated United States PCE inflation. Profit-taking ahead of the winter holidays also takes its toll.
GBP/USD nears 1.2600 on renewed USD weakness
GBP/USD extends its rebound from multi-month lows and approaches 1.2600. The US Dollar stays on the back foot after softer-than-expected PCE inflation data, helping the pair edge higher. Nevertheless, GBP/USD remains on track to end the week in negative territory.
Gold rises above $2,620 as US yields edge lower
Gold extends its daily rebound and trades above $2,620 on Friday. The benchmark 10-year US Treasury bond yield declines toward 4.5% following the PCE inflation data for November, helping XAU/USD stretch higher in the American session.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.