News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • (Weekly Fundamental) Australian Dollar Outlook: Tied to Biden Stimulus Bets, S&P 500, US Dollar, Treasuries $AUDUSD #SP500 #stimulusbill #USD https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/01/16/Australian-Dollar-Outlook-Tied-to-Biden-Stimulus-Bets-SP-500-US-Dollar-Treasuries.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/H7aus0Aljt
  • The inside bar pattern occurs regularly within financial markets. Incorporating the inside bar strategy can enhance a trader's market analysis. Find out how more here: https://t.co/E3EWOYTYNw https://t.co/7zI3p6UNVs
  • Bank of Japan to mull widening of its long-term yield band -BBG $USDJPY
  • While the rise in longer-dated Treasury yields have been impressive as of late, March highs remain a key focus for resistance The medium-term uptrend remains intact, maintained by rising support from August Fading fiscal stimulus expectations (size) may sour yields ahead https://t.co/L3vBcF0ts7
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/vFJ8zmphMm
  • While the US Dollar has been holding its ground, its downside bias against the Singapore Dollar, New Taiwan Dollar Thai Baht and Indonesian Rupiah remains intact as it hovers at support. Get your market update from @ddubrovskyFX here: https://t.co/p7gAztWuVG https://t.co/zB1pOS6U4D
  • The $VIX is now running 227 trading days above the 20 handle. It is also working its way quickly into a dead-end descending triangle. These don't really break lower... https://t.co/39Pr7YrQ08
  • WTI Crude amongst the many market participants taking a hit today, down almost 3% $WTI $USD https://t.co/eg2phm1wUO
  • The power of suggestion: even though the market recognized the mistake with mixing Tesla founder Musk's suggestion to use the Signal app with the stock SIGL, it is still trading >2,000% above pre-remark levels and maintains heavy volume. Us speculators are an interesting people
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.07% 🇨🇭CHF: -0.35% 🇪🇺EUR: -0.65% 🇨🇦CAD: -0.75% 🇦🇺AUD: -0.95% 🇳🇿NZD: -1.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6NZVebT00L
Australian Dollar Price Outlook: AUD/NZD Threatens Bearish Reversal

Australian Dollar Price Outlook: AUD/NZD Threatens Bearish Reversal

2020-12-29 20:00:00
Peter Hanks, Analyst

AUD/NZD Price Forecast: Bearish

Advertisement

Australian Dollar Price Outlook: AUD/NZD Threatens Bearish Reversal

The Australian Dollar has enjoyed recent gains against many of its major counterparts as risk appetite drives demand for the grow-sensitive Aussie. AUD/NZD has been an exception since August, however, and the pair was locked in a downtrend until December. The final month of the year offered some respite for the Australian Dollar which saw AUD/NZD climb quickly from 1.0417 to the 200-day moving average just north of 1.0715.

AUD/NZD Price Chart: Daily Time Frame (October 2019 – December 2020)

AUD/NZD price chart

In conjunction with resistance offered by the 200-day moving average, AUD/NZD reveals waning momentum with a series of daily candles with long upper wicks. Further still, the recent formation of a death cross in mid-November could suggest the pair is vulnerable to a continuation lower. Thus, levels of invalidation if bearish exposure is to be explored can be set above the nearby 200DMA - perhaps around the November high.

AUD/NZD Price Chart: 4 – Hour Time Frame (July 2020 – December 2020)

AUD/NZD price chart

Early areas of interest may exist around 1.0600 and slightly beneath where the 200-period moving average resides on the 4-hour chart and the 50-day moving average rests. Secondary levels of note could materialize around the mid-point of the pair’s range from March to August around 1.0521.

Top Trading Opportunities in 2021
Top Trading Opportunities in 2021
Recommended by Peter Hanks
Get Your Free Top Trading Opportunities Forecast
Get My Guide

While there is little to suggest AUD/NZD rates will fall unabatedly in the days ahead, the technical landscape suggests weakness is on the horizon which is sufficient evidence to leave me with a bearish bias. Follow @PeterHanksFX on Twitter for updates on this pair.

--Written by Peter Hanks, Strategist for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES