AUD/NZD Price Analysis: Consolidation to continue as long as below 1.0850
by Matías Salord- Rally fails around 1.0850 and AUD/NZD retreats, manages to hold 1.0700.
- Consolidation between 1.0660 and 1.0850 likely; more gains above 1.0850.
The AUD/NZD pair posted a negative weekly close on Friday but it managed to recover 1.0700 after falling to 1.0669, the 100-week SMA. The bullish bias remains in place but the momentum eased significantly.
The Aussie needs a weekly close above 1.0850 to clear the way to more gains, with a potential target at 1.1000.
On the downside, AUD/NZD will likely drop to test 1.0650/70 with a confirmation below 1.0700. A weekly close under AUD/NZD would change the bias to bearish.
AUD/NZD weekly chart
-637260296206326721.png "https://editorial.fxstreet.com/miscelaneous/AUD_NZD%20(26)-637260296206326721.png")
AUD/NZD
| Overview | |
|---|---|
| Today last price | 1.073 |
| Today Daily Change | 0.0003 |
| Today Daily Change % | 0.03 |
| Today daily open | 1.0727 |
| Trends | |
|---|---|
| Daily SMA20 | 1.0698 |
| Daily SMA50 | 1.0486 |
| Daily SMA100 | 1.0444 |
| Daily SMA200 | 1.0538 |
| Levels | |
|---|---|
| Previous Daily High | 1.0741 |
| Previous Daily Low | 1.0665 |
| Previous Weekly High | 1.0841 |
| Previous Weekly Low | 1.0665 |
| Previous Monthly High | 1.0753 |
| Previous Monthly Low | 1.0151 |
| Daily Fibonacci 38.2% | 1.0694 |
| Daily Fibonacci 61.8% | 1.0712 |
| Daily Pivot Point S1 | 1.0681 |
| Daily Pivot Point S2 | 1.0635 |
| Daily Pivot Point S3 | 1.0606 |
| Daily Pivot Point R1 | 1.0757 |
| Daily Pivot Point R2 | 1.0787 |
| Daily Pivot Point R3 | 1.0833 |