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AUD/NZD Technical Analysis: Next leg higher capped by the 55-SMA

  • Last week reversal from multi-year intraday lows boosted the pair to levels on top of 1.0600 but then lost strength and pulled back. Still, some positive developments are seen for the Aussie. 
  • AUD/NZD has been able to hold above the 20-day moving average at 1.0520/30, the critical support level. A break lower would invalidate the bullish bias. While if it holds above, risks might be tiled to the upside. A break above 1.0610 (horizontal level and 55-SMA) will likely lead to further gains, targeting 1.0680. 
  • The key support continues to be 1.0450: a consolidation below would open the doors to further losses. 

AUD/NZD Daily Chart

AUD/NZD

AUD/NZD

Overview:
    Today Last Price: 1.055
    Today Daily change: 3.0 pips
    Today Daily change %: 0.0284%
    Today Daily Open: 1.0547
Trends:
    Previous Daily SMA20: 1.0518
    Previous Daily SMA50: 1.0587
    Previous Daily SMA100: 1.0743
    Previous Daily SMA200: 1.0787
Levels:
    Previous Daily High: 1.0608
    Previous Daily Low: 1.0542
    Previous Weekly High: 1.0641
    Previous Weekly Low: 1.0532
    Previous Monthly High: 1.0674
    Previous Monthly Low: 1.0408
    Previous Daily Fibonacci 38.2%: 1.0567
    Previous Daily Fibonacci 61.8%: 1.0583
    Previous Daily Pivot Point S1: 1.0524
    Previous Daily Pivot Point S2: 1.0501
    Previous Daily Pivot Point S3: 1.0459
    Previous Daily Pivot Point R1: 1.0589
    Previous Daily Pivot Point R2: 1.0631
    Previous Daily Pivot Point R3: 1.0654

 

Gold back around the pivot and failing below 1300 psychological level

The precious metal seems to have lost a speculative bid, with the greenback moving sideways within a familiar tight range of between 95.48 and 95.72.
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