The AUD/NZD pair is trading around the 1.09 mark on Tuesday, showing slight bullish momentum with minor gains on the day. The pair remains within the mid-range of its recent fluctuations, indicating a stable yet cautious upward bias as traders navigate broader market developments.
Technical indicators present a mixed picture, with short-term signals supporting the current bullish trend, while longer-term moving averages point to potential resistance ahead. The Relative Strength Index (RSI) hovers in the 60s, suggesting neutral conditions, while the Moving Average Convergence Divergence (MACD) continues to signal ongoing buy momentum. The Ultimate Oscillator (7, 14, 28) also remains in the 60s, reinforcing the stable but cautiously positive outlook.
The Average Directional Index (14) reading in the 20s reflects a lack of strong directional movement, which aligns with the neutral stance of the Stochastic RSI Fast (3, 3, 14, 14), currently resting in the 100s. Short-term moving averages, including the 10-day Simple Moving Average (SMA) and 10-day Exponential Moving Average (EMA), align with the broader buy signals, supporting the pair’s current bullish trend. However, the 100-day and 200-day SMAs suggest a more cautious long-term outlook, pointing to underlying selling pressure that could limit further upward movement.
Key support levels for the pair are identified around 1.0881, followed by 1.0876 and 1.0868. On the upside, resistance is expected near 1.0924, with stronger barriers at 1.0947 and 1.0974 potentially capping gains in the near term.
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