AUD/NZD Price Analysis: bullish extension fails to capture 1.0950, at risk of further downside

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  • The AUD/NZD is trading into the top side heading into Thursday.
  • The Kiwi has been lagging as economic data continues to miss the mark.
  • The Aussie is stepping even deeper into overbought territory.

The AUD/NZD has rebounded back over the 1.0900 handle, and heads into the Thursday market session trading around 1.0930, testing into four-month highs. The trick for AUD bulls will be to keep the Aussie propped up, though the pair is getting plenty of support after a slew of economic data misses for the Kiwi this week.

Congestion within technical indicators is beginning to pile up for the AUD/NZD chart, with November's P0 neutral pivot point printing in between the 200-day and 50-day Simple Moving Averages (SMA) just north of the 1.0800 handle.

Intraday action has the pair struggling to develop the necessary momentum to claim the R1 weekly pivot, and the Aussie is increasingly at risk of running out of gas. A bearish reversal will see the pair falling back to P0 and the 200-hour SMA, with an extended decline coming up against S1 for the week at 1.0850.

AUD/NZD Hourly Chart

AUD/NZD Daily Chart

AUD/NZD Technical Levels

AUD/NZD

Overview
Today last price 1.0932
Today Daily Change 0.0053
Today Daily Change % 0.49
Today daily open 1.0879
 
Trends
Daily SMA20 1.0772
Daily SMA50 1.0807
Daily SMA100 1.0825
Daily SMA200 1.082
 
Levels
Previous Daily High 1.0914
Previous Daily Low 1.0878
Previous Weekly High 1.0915
Previous Weekly Low 1.0823
Previous Monthly High 1.093
Previous Monthly Low 1.0624
Daily Fibonacci 38.2% 1.0891
Daily Fibonacci 61.8% 1.09
Daily Pivot Point S1 1.0867
Daily Pivot Point S2 1.0854
Daily Pivot Point S3 1.0831
Daily Pivot Point R1 1.0903
Daily Pivot Point R2 1.0926
Daily Pivot Point R3 1.0939

 

 

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