Home > News > Currency News > Detail
Bookmark and Share

AUD/NZD technical analysis: Confronts 1.0780/85 resistance confluence upbeat AU jobs report

2019-10-17 09:40    FXYEAH
  • AUD/NZD bounces off 1.0730 support confluence after AU Unemployment rate’s surprise decline.
  • A sustained break beyond 1.0785 can take aim at September high.

With the market’s upbeat reaction to a 0.1% decline in Australia’s seasonally adjusted unemployment rate, AUD/NZD takes the bids to 1.0780 by the press time of early Thursday.

Read: Australian Unemployment rate 0.1% lower and AUD rallies some 30 pips

The pair now needs a successful break of multiple resistance-lines ranged from mid-September, around 1.0780/85 to aim for 1.0800 and September month high of 1.0852.

Meanwhile, a downside break below 1.0730 support-joint including 200-bar Simple Moving Average (SMA) and 38.2% Fibonacci retracement of August-September rise could drag prices to the one-week-old ascending trend line of 1.0695.

Also, pair’s declines below 1.0695 can well aim for 61.8% Fibonacci retracement level of 1.0650 and the 1.0630 support level.

AUD/NZD 4-hour chart

AUD/NZD technical analysis: Confronts 1.0780/85 resistance confluence upbeat AU jobs report Currency News

Trend: pullback expected

 

AUDNZDTechnical Analysis

0 traders reviewed this item, please leave a reply!

About FXYEAH | Broker Listing | Contribute | Contact Us | Sitemap | TagCloud
Disclaimer: All contents of site are only for your reference, don't suggest you do any investment decision, you should be responsible for your decision.