AUD/NZD Technical Analysis | AUD/NZD Trading: 2024-12-16 | IFCM Turkey
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AUD/NZD Technical Analysis - AUD/NZD Trading: 2024-12-16

AUD/NZD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 1.10184

Sell Stop

Above 1.10389

Stop Loss

Ara Zohrabian
Ara Zohrabian
Senior Analytical Expert
Articles2624
IndicatorSignal
MACD Sell
Donchian Channel Sell
MA(200) Buy
Fractals Sell
Parabolic SAR Sell

AUD/NZD Chart Analysis

AUD/NZD Chart Analysis

AUD/NZD Technical Analysis

The technical analysis of the AUDNZD price chart on 4-hour timeframe shows AUDNZD,H4 is retreating after rebounding to four-day high last session. The 200-day moving average MA(200) has leveled off. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.10184. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.10399. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - AUD/NZD

Australia’s private sector activity declined at the end of 2024 while New Zealand’s services sector contraction slowed in December. Will the AUDNZD price retreating persist?

S&P Global reported Australia’s private sector activity contracted in December. Downturn in manufacturing production was cited as the reason for declining activity. Businesses reduced their workforce capacity for the first time since August 2021 as exports declined at a faster pace than in November. Meanwhile BusinessNZ reported New Zealand’s services sector activity contraction slowed in December – the BusinessNZ Services Index rose to 49.5 from 46.2 in November. Readings above 50.0 indicate that services sector is generally expanding; below 50.0 that it is declining. Contracting Australia private sector activity is bearish for Australian dollar and the AUDNZD pair, and slower contraction in New Zealand services activity is bullish for New Zealand dollar and bearish for AUDNZD pair.

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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