AUD/NZD Update: Neutral

There is no clear bias to either side. The lengthy trading range since early 2015 remains in play. Key levels come in at 1.1265 and 1.0280.

  • Near term trend: neutral
  • Long term trend: neutral
  • Outlook: neutral
  • Strategy: no clear bias
  • Support: 1.0620/ 1.0280 / parity / 0.9670*
  • Resistance: 1.0800 /  1.1265+
  • Outlook cancelled/neutralized: n/a

Weekly chart AUD/NZD

9 APR 2018 – Aussie underperformance

Pressure is mounting on Aussie even though the longer term ‘trend’ has been relatively neutral. Breaking below the internal trend line at 1.0520 triggers a bigger correction towards 1.0280 and parity. Although not extremely bearish, the outlook is weak enough to prefer Kiwi crosses over the Aussie crosses when making a trade.

Note that breaking parity also increases the chance of a move to 0.9670. This is an unreliable monthly price projection of the down trend since 2011. We are not trading on that target, but keeping it in the back of our heads nonetheless.

  • Near term trend: negative
  • Long term trend: neutral
  • Outlook: more underperformance for AUD
  • Strategy: avoid AUD, prefer NZD in trading
  • Support: 1.0520 / 1.0280 / parity / 0.9670*
  • Resistance: 1.0800 /  1.1265+
  • Outlook cancelled/neutralized above 1.0800

Weekly chart AUD/NZD