AUD/NZD Retreats Below 1.2200 Amid Diverging Monetary Policies
- Policy Divergence: The Reserve Bank of New Zealand (RBNZ) has adopted a hawkish stance, indicating a willingness to maintain high interest rates to combat persistent domestic inflation, while the Reserve Bank of Australia (RBA) appears more cautious due to disappointing economic data, leading to the AUD/NZD cross falling below the psychological support level of 1.2200.
- Weak Economic Data: Recent Australian retail sales and business confidence figures have come in below market expectations, suggesting that high interest rates and rising living costs are significantly curbing consumer spending, which increases the market's anticipation of potential rate cuts by the RBA.
- Technical Analysis Signals: The drop below 1.2200 in the AUD/NZD cross is significant, with technical analysts noting that if the current momentum continues, the next downside target could be around 1.2100, potentially testing the 1.2050 area, indicating a growing preference for the New Zealand dollar.
- Global Market Context: Amid increasing global economic uncertainty, commodity prices have been volatile, particularly iron ore and coal prices, which are critical for Australia, further impacting the AUD/NZD dynamics and reflecting market concerns about future economic growth.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0241 | 0.0283 | 0.0323 | 0.0365 | 0.0405 | 0.0447 | 0.0487 |
| Fibonacci | 0.0283 | 0.0315 | 0.0334 | 0.0365 | 0.0397 | 0.0416 | 0.0447 |
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