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AUD/NZD Technical Analysis - AUD/NZD Trading: 2024-12-16
AUD/NZD Technical Analysis Summary
Below 1.10184
Sell Stop
Above 1.10389
Stop Loss
| Indicator | Signal |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
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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