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  • The Australian dollar dropped sharply against the Kiwi, falling firmly below January and December lows. The consolidation under the 1.0400 area leaves the pair vulnerable to more losses over the next days.  
  • The next target to the downside could be seen at 1.0320; below a strong resistance is seen at 1.0235.  
  • A recovery back above 1.0420 would ease the negative tone. The two key levels to watch are 1.0550 (horizontal) and 1.0590 (downtrend line). A close above 1.0600 would strengthen the case for a recovery.  

AUD/NZD Daily chart

https://www.forexcrunch.com/wp-content/uploads/2019/02/AUD_NZD-636857716030988269.png

AUD/NZD

Overview:
       Today Last Price:  1.0387
       Today Daily change:  -0.0047  pips
       Today Daily change %:  -0.45%
       Today Daily Open:  1.0434
Trends:
       Daily SMA20:  1.0519
       Daily SMA50:  1.052
       Daily SMA100:  1.0651
       Daily SMA200:  1.0775
Levels:
       Previous Daily High:  1.0545
       Previous Daily Low:  1.0396
       Previous Weekly High:  1.0538
       Previous Weekly Low:  1.0382
       Previous Monthly High:  1.0671
       Previous Monthly Low:  0.9631
       Daily Fibonacci 38.2%:  1.0453
       Daily Fibonacci 61.8%:  1.0488
       Daily Pivot Point S1:  1.0372
       Daily Pivot Point S2:  1.031
       Daily Pivot Point S3:  1.0223
       Daily Pivot Point R1:  1.052
       Daily Pivot Point R2:  1.0607
       Daily Pivot Point R3:  1.0669