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 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD meets a plateau as global CODVID curve peaks FX Street 3 years 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… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
