AUD/NZD Technical Analysis: Overbought ahead of Australian jobs data

The AUD/NZD pair jumped to 1.0730, the highest since November after CPI data from New Zealand. Now traders await employment data from Australia.
Main indicators in the daily chart show overbought readings but the close above 1.0640 signals that it remains strong. The rally was capped by the strong resistance at 1.0730 that will likely offer resistance (horizontal level and also a Fibonacci retracement). The pair could start trading in the 1.0640 - 1.0730 consolidation range. A break higher would clear the way for a test of 1.0800.
On the flip side, a slide back under 1.0640 would point to an extension of the correction, likely to 1.0500.

Matías Salord FXStreet

AUD/NZD Daily Chart

AUD/NZD

Overview
Today last price	1.0671
Today Daily Change	0.0062
Today Daily Change %	0.58
Today daily open	1.0609

Trends
Daily SMA20	1.0475
Daily SMA50	1.0435
Daily SMA100	1.0486
Daily SMA200	1.0684

Levels
Previous Daily High	1.0621
Previous Daily Low	1.057
Previous Weekly High	1.0628
Previous Weekly Low	1.0532
Previous Monthly High	1.0455
Previous Monthly Low	1.0274
Daily Fibonacci 38.2%	1.0602
Daily Fibonacci 61.8%	1.0589
Daily Pivot Point S1	1.0579
Daily Pivot Point S2	1.0549
Daily Pivot Point S3	1.0528
Daily Pivot Point R1	1.063
Daily Pivot Point R2	1.0651
Daily Pivot Point R3	1.0681

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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