Aussie struggles to develop a bounce against Kiwi, stuck near 1.0730
The post Aussie struggles to develop a bounce against Kiwi, stuck near 1.0730 appeared on BitcoinEthereumNews.com. The AUD/NZD has been bolted to chart territory north of 1.0700 in the near-term. The Aussie’s tumble last week has seen little paring back as the pair waffles in the midrange. The AUD/NZD has been stuck near 1.0730 since a backslide from 1.0860 last week, and the Aussie-Kiwi pairing tumbled out of a near-term consolidation range to trade into an entirely new range just north of the 1.0700 handle. A near-term technical floor is firming up at the 1.0730 price level, and intraday upside swings that fail to generate bullish momentum see a technical ceiling capping off upside price action from 1.0770. On the daily candlesticks, the AUD/NZD is set to see some technical consolidation before returning to the upside somewhere north of the 200-day Simple Moving Average (SMA), which has been consolidating with the 50-day SMA near the 1.0800 handle since mid-July. Sideways chart churn has been the name of the game for the AUD/NZD through most of 2023’s trading action, and if seller’s aren’t able to kick in a short extension below 1.0700, bidders will be taking the reigns to send the AUD/NZD back into recent swing highs near 1.0850. AUD/NZD Hourly Chart AUD/NZD Daily Chart AUD/NZD Technical Levels Source: https://www.fxstreet.com/news/aud-nzd-price-analysis-aussie-struggles-to-develop-a-bounce-against-kiwi-stuck-near-10730-202312042354
The post Aussie struggles to develop a bounce against Kiwi, stuck near 1.0730 appeared on BitcoinEthereumNews.com.
The AUD/NZD has been bolted to chart territory north of 1.0700 in the near-term. The Aussie’s tumble last week has seen little paring back as the pair waffles in the midrange. The AUD/NZD has been stuck near 1.0730 since a backslide from 1.0860 last week, and the Aussie-Kiwi pairing tumbled out of a near-term consolidation range to trade into an entirely new range just north of the 1.0700 handle. A near-term technical floor is firming up at the 1.0730 price level, and intraday upside swings that fail to generate bullish momentum see a technical ceiling capping off upside price action from 1.0770. On the daily candlesticks, the AUD/NZD is set to see some technical consolidation before returning to the upside somewhere north of the 200-day Simple Moving Average (SMA), which has been consolidating with the 50-day SMA near the 1.0800 handle since mid-July. Sideways chart churn has been the name of the game for the AUD/NZD through most of 2023’s trading action, and if seller’s aren’t able to kick in a short extension below 1.0700, bidders will be taking the reigns to send the AUD/NZD back into recent swing highs near 1.0850. AUD/NZD Hourly Chart AUD/NZD Daily Chart AUD/NZD Technical Levels Source: https://www.fxstreet.com/news/aud-nzd-price-analysis-aussie-struggles-to-develop-a-bounce-against-kiwi-stuck-near-10730-202312042354
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