Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Will AUD/NZD Overcome The Key Resistance Of 1.0810?

By JFD TeamForexJun 14, 2021 07:48AM ET
www.investing.com/analysis/will-audnzd-overcome-the-key-resistance-of-10810-200585955
Will AUD/NZD Overcome The Key Resistance Of 1.0810?
By JFD Team   |  Jun 14, 2021 07:48AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

AUD/NZD traded slightly higher during the European session Monday, after it hit support near the 1.0780 support, and the upside support line drawn from the low of May 31. As long as the pair continues to trade above that line, we will hold a positive stance with regards to the short-term outlook, but in order to get confident on more advances, we would like to see a clear break above the key resistance barrier of 1.0810.

That barrier stopped the rate from moving higher on May 10 and 21, as well as on Friday, and thus, its break may encourage more bulls to enter the action and perhaps help the rate climb to the peak of April 16, at 1.0842. If they are not willing to stop there, then we may see them shooting for the 1.0875 territory, defined as a resistance by the high of April 6.

Turning our gaze to the short-term oscillators, we see that the RSI lies flat, slightly below 70, while the MACD, although well into the positive territory, is also flat, near its trigger line. Both indicators detect positive momentum, but the fact that they have recently turned flat adds credence to our view of waiting for a break above 1.0810 before trusting a trend continuation.

On the downside, a dip below 1.0780 would also take the pair below the aforementioned upside line, something that may cancel the bullish case. The bears may then get encouraged to push towards Thursday’s low of 1.0755, the break of which could extend the fall towards the 1.0715 hurdle, marked by the low of June 7.

AUD/NZD 4-hour chart technical analysis
AUD/NZD 4-hour chart technical analysis

Will AUD/NZD Overcome The Key Resistance Of 1.0810?
 

Related Articles

Al Brooks
EUR/USD: Is A Move Higher Likely? By Al Brooks - Jul 30, 2021 2

EUR/USD has 5 consecutive bull bars after consecutive wedge bottoms, which is a high probability buy setup. Testing the July 6 and July 9 double top so might pull back for a...

Ashraf Laidi
Dollar Dips, PCE Next By Ashraf Laidi - Jul 30, 2021

by Adam Button We said on Monday here this would be a pivotal week and it certainly proved to be so. The US dollar steadily sold off on Thursday and was the worst performer; we...

Will AUD/NZD Overcome The Key Resistance Of 1.0810?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval. 75.05% of the retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please read the full Risk Disclosure - https://www.jfdbrokers.com/en/legal/risk-disclosure .
Continue with Google
or
Sign up with Email