The AUDNZD pair, currently priced at 1.08565, is uncertain and fluctuating as it anticipates the announcement of Australian labor data.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• The AUD/NZD is waffling ahead of Australian labor data.

The pair currently trades last at 1.08565.

The previous day high was 1.0888 while the previous day low was 1.0858. The daily 38.2% Fib levels comes at 1.0877, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.087, expected to provide resistance.

The AUD/NZD pairing is taking a step down for Wednesday, back into familiar consolidation territory as the Aussie (AUD) struggles to find meaningful momentum against its next-door neighbor the Kiwi (NZD).

The AUD managed to squeeze past the 1.0880 handle yesterday, but couldn’t keep a grip and has slumped back, now trading into the 1.0860 region. The day’s low is currently marked in near 1.0845.

The Aussie could be seeing some hesitation from traders as Australian labor data rounds the corner, with Employment Change and Unemployment Rate figures slated for early Thursday.

The Australian economy is forecast to have added 23K jobs to the landscape in August, an uptick from the previous month’s 14.6K decline. Meanwhile, the Unemployment Rate for the same period is broadly expected to hold steady at 3.7% month-over-month. Aussie bulls will no doubt be looking for a better-than-expected showing for labor data in order to push the AUD higher. Both indicators are slated to print at 01:30 GMT on Thursday.

The Kiwi remains drastically under-represented on the economic calendar this week, with little of note to bolster the NZD. BusinessNZ’s Purchasing Manager’s Index (PMI), a diffusion index of purchasing managers within New Zealand’s manufacturing sector, will be landing late Thursday. Little market reaction will be expected, and forecasts for the indicator are generally not made. The industrial PMI has printed in the sub-50.0 region since March, and no big surprises are expected.

The Aussie has largely traded into familiar territory against the Kiwi for much of the year, cycling deep consolidation territory and well off last year’s highs of 1.1490, a region that might as well be on another planet entirely.

Daily candlesticks are implying a mildly bullish bent, with lows slowly rising, but 1.0880 appears to represent the ceiling for the time being, and the rising trendline from 1.0725 is squeezing price action into the level.

The 100- and 50-day Simple Moving Averages remain flat and consolidated, currently parked near 1.0820, and it will take significant moves in either direction to reintroduce momentum to the moving averages.

Technical Levels: Supports and Resistances

AUDNZD currently trading at 1.0856 at the time of writing. Pair opened at 1.0886 and is trading with a change of -0.28 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.0847, 50 SMA 1.0824, 100 SMA @ 1.082 and 200 SMA @ 1.081.

The previous day high was 1.0888 while the previous day low was 1.0858. The daily 38.2% Fib levels comes at 1.0877, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.087, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1.0866, 1.0847, 1.0836
• Pivot resistance is noted at 1.0897, 1.0908, 1.0927

[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.

1. EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
2. EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group

Share this:

• Facebook
• X

Like this:

Like Loading...