- AUD/NZD is trading around 1.0485 marks.
- Pair made intraday high at 1.0505 and low at 1.0473 marks.
- Intraday bias remains bearish till the time pair holds initial resistance at 1.0547 marks.
- On the top side, a sustained close above 1.0547 will drag the parity higher towards 1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
- Alternatively, a daily close below 1.0468 will take the parity down towards key supports around 1.0408(June 9, 2016 low), 1.0362 and 1.0231 marks respectively.
- Today New Zealand released Wespac consumer sentiment data with negative numbers at 106.00 q/q vs 109.6 q/q previous release.
- Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart.
We prefer to take short position in AUD/NZD only below 1.0468, stop loss 1.0547 and target 1.0374 levels.
The material has been provided by InstaForex Company – www.instaforex.com