AUD/NZD Technical Analysis: Break of 1.0365/70 can validate recent pullback after Aussie employment data

21.03.2019
  • AUD/NZD is on bids around 1.0340 during early Asian sessions on Thursday.
  • The quote recently bounced from intra-day low of 1.0297 as eight-year low (4.9%) Australian unemployment rate grabbed more market attention than soft employment change figure of 4.6K versus 14.0K expected and 39.1K prior.
  • While oversold levels of 14-bar relative strength index (RSI) and upbeat jobs report helped the pair to reverse from the day’s low, three-week long descending resistance-line and mid-February lows can confine latest advances around 1.0365/70.
  • Given the price rise beyond 1.0370, 38.2% Fibonacci retracement of February – March declines, at 1.0390, followed by 1.0400, could please buyers.
  • Additionally, the pair’s successful trading above 1.0400 can further escalate the recovery towards 61.8% Fibonacci retracement level near 1.0450.
  • Alternatively, pair’s slip under 1.0297 may need to clear early-month low around 1.0290 in order to aim for 61.8% Fibonacci expansion (FE) level of 1.0250.
  • Also, September 2016 bottom around 1.0230 and mid-April 2015 support near 1.0220 can flash on bears’ radar past-1.0250.
  • AUD/NZD 4-Hour chart

    additional important levels

    Overview
    Today last price 1.0341
    Today Daily Change 3 pips
    Today Daily Change % 0.03
    Today daily open 1.0338
     
    Trends
    Daily SMA20 1.0382
    Daily SMA50 1.0458
    Daily SMA100 1.0528
    Daily SMA200 1.0715
     
    Levels
    Previous Daily High 1.0384
    Previous Daily Low 1.0326
    Previous Weekly High 1.0363
    Previous Weekly Low 1.0293
    Previous Monthly High 1.0551
    Previous Monthly Low 1.0362
    Daily Fibonacci 38.2% 1.0348
    Daily Fibonacci 61.8% 1.0361
    Daily Pivot Point S1 1.0315
    Daily Pivot Point S2 1.0291
    Daily Pivot Point S3 1.0257
    Daily Pivot Point R1 1.0373
    Daily Pivot Point R2 1.0407
    Daily Pivot Point R3 1.0431

     

    Original from: www.fxstreet.com

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