12 Mar 2019
AUD/NZD Technical Analysis: Hits bearish target, some consolidation likely before next leg lower
- The AUD/NZD pair posted the weakest close in two years, opening the way to further losses.
- It reached the 1.0310/20 target (July 2016 / January 2017 low); a break lower would clear the way to the next one seen at 1.0280 (July 2017 low).
- Considering the extension of the slide some consolidation near the 1.0300 area could be seen before another leg lower.
- A recovery above 1.0360 would remove some of the short-term bearish pressure.
- The key resistance is seen at 1.0450 and above at 1.0490 a downtrend line that if broken should lead to further appreciation of the Aussie over the medium-term.
AUD/NZD Daily Chart
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AUD/NZD
Overview:
Today Last Price: 1.0317
Today Daily change: -0.0032 pips
Today Daily change %: -0.31%
Today Daily Open: 1.0349
Trends:
Daily SMA20: 1.0413
Daily SMA50: 1.0486
Daily SMA100: 1.0562
Daily SMA200: 1.0733
Levels:
Previous Daily High: 1.0362
Previous Daily Low: 1.033
Previous Weekly High: 1.0448
Previous Weekly Low: 1.0341
Previous Monthly High: 1.0551
Previous Monthly Low: 1.0362
Daily Fibonacci 38.2%: 1.0343
Daily Fibonacci 61.8%: 1.035
Daily Pivot Point S1: 1.0332
Daily Pivot Point S2: 1.0315
Daily Pivot Point S3: 1.03
Daily Pivot Point R1: 1.0364
Daily Pivot Point R2: 1.0379
Daily Pivot Point R3: 1.0396