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AUD/NZD Technical Analysis - AUD/NZD Trading: 2023-08-30
AUD/NZD Technical Analysis Summary
Above 1.0887
Buy Stop
Below 1.0776
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
AUD/NZD Chart Analysis
AUD/NZD Technical Analysis
The technical analysis of the AUDNZD price chart on daily timeframe shows AUDNZD,Daily is rebounding above the 200-day moving average MA(200) after breaching above the MA(200). We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.0887. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.0776. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - AUD/NZD
Australian inflation decline accelerated while building permits declined in New Zealand. Will the AUDNZD price continue rebounding?
Australian inflation decline accelerated in July. The Australian Bureau of Statistics reported annual inflation eased to 4.9 per cent in July, down from 5.4 per cent in June. And the consumer price index growth was 5.6 per cent in May. Slowing inflation is bearish for Australian dollar and the AUDNZD pair. At the same time building consents declined in New Zealand. Statistics New Zealand reported the number of new buildings consented In July 2023 fell 5.2 percent in New Zealand after rising 3.4 percent in June. Declining building activity in New Zealand is bearish for New Zealand dollar and bullish for AUDNZD pair. The current setup is bullish for AUDNZD pair.
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