Key Chart Ranges and Indicators to Contemplate
Aussie Greenback vs New Kiwi Greenback Technical Forecast
- Bull’s momentum has eased, however the bias increased
- AUD/NZD outlook stays constructive whereas above 1.0765
A Multi-Week Excessive
Final week, AUD/NZD hit a four-week excessive of 1.0754. Nonetheless, the worth retreated after as some bulls appeared to chop again. In the end, a weekly candlestick closed modestly within the inexperienced with a 0.2% achieve.
Alongside that, the Relative Energy Index (RSI) fell from 62 to 54 highlighting that bulls had been dropping momentum.
AUD/NZD DAILY PRICE CHART (Sep 25, 2018 – July 30, 2020) Zoomed Out
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AUD/NZD DAILY PRICE CHART (MAy 23 – July 29, 2020) Zoomed IN
This week, AUD/NZD closed above the 50-day…