FxWirePro: Kiwi falls in early as GDP data misses expectations

• AUD/NZD is currently trading around 1.0760 marks.
   
• Pair made intraday high at 1.0783 and low at 1.0739 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1.0700 mark.
   
• A sustained close above 1.0742 will drag the parity higher towards key resistances at 1.0826/1.0945/1.1072/1.1113/1.1163/1.1238 levels respectively.
   
• Alternatively, a daily close below 1.0742 will take the parity down towards key supports around 1.0704/1.0654/1.0550/1.0443 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.
   
• New Zealand Q4 GDP production Q/Q stays flat at 0.6 % (forecast 0.7 %) vs previous 0.6 %.
   
• Australia's S&P/ASX 200 index down 0.27 pct at 5,919.30 points in early trade.

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