AUD/NZD Price Analysis: Heading towards key hurdles ahead of

AUD/NZD Price Analysis: Heading towards key hurdles ahead of Australian jobs report


Feb 18, 2021 00:22 GMTFXStreet News
AUD/NZD eases from one-month high but the pullback fades off-late.
RSI fades upside momentum near overbought region, signaling pullback from key hurdles.
Confluence of 200-day SMA, 50% Fibonacci retracement restrict immediate downside.
Aussie employment data bears mixed forecasts, RBA pessimism.
AUD/NZD bulls catch a breather around 1.0780 during Thursday’s Asian trading session. In doing so, the quote eases from the highest since January 21, marked on Wednesday, while nearing the key resistances ahead of Australia’s January month employment data.
Read: AUD/USD: Corrective pullback to mid-0.7700s eyes Australian Employment data for fresh fuel
The mixed forecasts and RBA’s downbeat view on jobs may weigh on the AUD/NZD prices. However, strong RSI and the quote’s ability to stay beyond a convergence of 200-day SMA and 50% Fibonacci retracement level of August-December 2020 downside, around 1.0720, keep the buyers hopeful.

Related Keywords

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