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- AUD/NZD is currently trading around 1.0590 marks.
- Pair made intraday high at 1.0597 and low at 1.0568 marks.
- Intraday bias remains neutral till the time pair holds key support at 1.0567 mark.
- A sustained close above 1.0587 will drag the parity higher towards key resistances at 1.0652/1.0705/1.0802/1.0945/1.1072 levels respectively.
- Alternatively, a daily close below 1.0587 will take the parity down towards key supports around 1.0567/1.0443/1.0380/1.0305 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Aussie released retail sales data with positive numbers at 0.6 pct m/m vs 0.2 pct previous release.
- In addition, Aussie released building approvals data with negative numbers at -6.2 pct m/m vs 17.2 pct previous release.
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