- The AUD/NZD dropped sharply recently after GDP data from Australia and then trimmed losses modestly.
- It bottomed at 1.0357, the lowest level intraday level since January 3 (mini-flash crash) and is headed to the weakest close in two years.
- The consolidation back below 1.0400 shows that the bearish bias remains intact and points to further losses. Below 1.0360, the next targets might be located at 1.0310/20 (July 2016 / January 2017 low) and 1.0280 (July 2017 low).
- The bearish pressure should ease with a recovery back above 1.0400. The next strong resistance is seen around 1.0450.
- The critical level comes at 1.0520/30, a downtrend line that if broken should clear the way to more gains for the Australian dollar.
AUD/NZD Daily chart
AUD/NZD
Overview:
Today Last Price: 1.038
Today Daily change %: -0.36%
Today Daily Open: 1.0418
Trends:
Daily SMA20: 1.0435
Daily SMA50: 1.0497
Daily SMA100: 1.0581
Daily SMA200: 1.0742
Levels:
Previous Daily High: 1.0438
Previous Daily Low: 1.0381
Previous Weekly High: 1.0462
Previous Weekly Low: 1.0362
Previous Monthly High: 1.0551
Previous Monthly Low: 1.0362
Daily Fibonacci 38.2%: 1.0416
Daily Fibonacci 61.8%: 1.0403
Daily Pivot Point S1: 1.0387
Daily Pivot Point S2: 1.0356
Daily Pivot Point S3: 1.033
Daily Pivot Point R1: 1.0443
Daily Pivot Point R2: 1.0469
Daily Pivot Point R3: 1.05
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