• AUD/NZD recovers from Monday losses, trades above 1.0350
  • China’s real-estate Evergrande weighs on the market sentiment
  • On Tuesday, the RBA will release its last meeting minutes.
  • RBNZ’s Hawksby: We had more confidence that employment was at its maximum sustainable level

After trading lower on Monday, the AUD/NZD is pairing some of its losses, is trading at 1.0347 up 0.25% at the time of writing. The market sentiment is in risk-off mode caused by China’s Evergrande woes and the Delta variant spread, triggering a flight towards safe-haven assets.

Reserve Bank of Australia minutes to be released at 0130 GMT

The Reserve Bank of Australia will unveil its monetary policy minutes. Despite the Delta variant outbreak in the last month and stringent measures imposed by Prime Minister Morrison, the RBA kept its decision to reduce its weekly bond purchases from A$5 Billion to A$4 Billion, nevertheless extended the duration of the program until at least February of 2022. The latter was due to support the Delta outbreak ongoing in the country.

In the New Zealand economic docket, the RBNZ Assistant Governor Christian Hawkesby hit the wires. He made comments about monetary policy that the statement showed that the bank had more confidence that employment was at its maximum sustainable level. Additionally, he said, “that monetary policy response would be required for future health lockdowns if there was more enduring impact on inflation, employment.”

Read more:  RBNZ’s Hawksby: We had more confidence that employment was at its maximum sustainable level

Later in the day, the NZ Credit Card Spending for August (YoY) and the NZ GDT Price Index will be released. The previous readings were 6.9% and 4%, respectively.

AUD/NZD Price Forecast: Technical outlook

The AUD/NZD is trading well below the daily moving averages, suggesting downward pressure. The pair is trading above the 38.2% of its latest Fibonacci retracement but beneath a downslope trendline that acts as the first resistance level, around  1.0365-70. A break above that trendline could push the AUD/NZD pair towards the 61.8% Fibo retracement level at 1.0386, followed by a challenge to 1.0400.

On the flip side, failure at 1.0365-70, the bears could exert downward pressure on the pair, exposing the 1.0300 level and the possibility of a retest of this year’s lows at 1.0278.

The Relative Strength Index is at 42.06, aiming higher, though it remains below the 50-midline, still supporting the downward bias.

KEY TECHNICAL LEVELS TO WATCH

AUD/NZD

Overview
Today last price 1.0347
Today Daily Change 0.0026
Today Daily Change % 0.25
Today daily open 1.0321
 
Trends
Daily SMA20 1.0383
Daily SMA50 1.0473
Daily SMA100 1.0606
Daily SMA200 1.0679
 
Levels
Previous Daily High 1.0337
Previous Daily Low 1.0287
Previous Weekly High 1.0398
Previous Weekly Low 1.0278
Previous Monthly High 1.0592
Previous Monthly Low 1.0338
Daily Fibonacci 38.2% 1.0306
Daily Fibonacci 61.8% 1.0318
Daily Pivot Point S1 1.0293
Daily Pivot Point S2 1.0265
Daily Pivot Point S3 1.0243
Daily Pivot Point R1 1.0343
Daily Pivot Point R2 1.0364
Daily Pivot Point R3 1.0392

 

 

Share: Feed news

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


Recommended content

Editors’ Picks

AUD/USD stays vulnerable toward 0.6200 ahead of US PCE data

AUD/USD stays vulnerable toward 0.6200 ahead of US PCE data

AUD/USD sits at monthly lows, eyeing 0.6200 early Friday. Traders remain risk averse amid US tariff threats, underpinning the safe-haven US Dollar and dragging the pair lower.  All eyes now remain on the US PCE inflation data for fresh trading impulse. 

AUD/USD News
USD/JPY holds sizeable losses near 149.50 amid risk aversion

USD/JPY holds sizeable losses near 149.50 amid risk aversion

USD/JPY remains under intense selling pressure to trades near 149.50 in Friday's Asian trading. Despite dismal Tokyo CPI and Japan's Retail Trade data, the Japanese Yen stands resilient due to risk aversion. The US Treasury bond yields sell-off weighs heavily on the pair ahead of US PCE data. 

USD/JPY News
Gold breaches key $2,890 support ahead of US PCE inflation data

Gold breaches key $2,890 support ahead of US PCE inflation data

Gold price struggles near two-week lows below $2,900 in Friday’s Asian trading hours, looking to snap its eight consecutive weekly gains. Traders weigh the latest tariff threats from US President Donald Trump and the sharp decline in the American artificial intelligence leader Nvidia's share price.

Gold News
Ripple's XRP sees further decline as short-term holders take profits, whales buy the dip

Ripple's XRP sees further decline as short-term holders take profits, whales buy the dip

Ripple's XRP is down 4% on Thursday as it struggles near the support at $2.12. Whales have been accumulating the recent selling pressure from short-term holders following the recent crypto market crash.

Read more
February inflation: Sharp drop expected in France, stability in the rest of the Eurozone

February inflation: Sharp drop expected in France, stability in the rest of the Eurozone

Inflation has probably eased in February, particularly in France due to the marked cut in the regulated electricity price. However, this overall movement masks divergent trends. Although disinflation is becoming more widespread, prices continue to rise rapidly in services, in France as well as elsewhere in the Eurozone.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025