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

  • 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

    Today last price1.0341
    Today Daily Change3 pips
    Today Daily Change %0.03
    Today daily open1.0338
    Daily SMA201.0382
    Daily SMA501.0458
    Daily SMA1001.0528
    Daily SMA2001.0715
    Previous Daily High1.0384
    Previous Daily Low1.0326
    Previous Weekly High1.0363
    Previous Weekly Low1.0293
    Previous Monthly High1.0551
    Previous Monthly Low1.0362
    Daily Fibonacci 38.2%1.0348
    Daily Fibonacci 61.8%1.0361
    Daily Pivot Point S11.0315
    Daily Pivot Point S21.0291
    Daily Pivot Point S31.0257
    Daily Pivot Point R11.0373
    Daily Pivot Point R21.0407
    Daily Pivot Point R31.0431


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