AUD/NZD back above 1.08 after RBA kept interest rate on hold

• Pair is currently trading at 1.0808 levels. 
   
• It made intraday high at 1.0837 and low at 1.0759 levels. 
   
• From the data front from Australia, RBA keeps interest rate at record low 2.0%.
   
• The current account deficit was released at $21.1 billion in the December quarter, the highest in at least 15 years.
   
• Australian building permits falling 7.5% month-on-month in January.
   
• Intraday bias remains bearish for the moment.
   
• A daily close above 1.0874 levels will turn the bias bullish again.
   
• Alternatively current downfall will take the parity around key support levels at 1.0575 levels.
   
• Initial resistance levels are seen at 1.0837, 1.0874 and 1.0970 levels.
   
• Key support levels are seen at 1.0789, 1.0670 and 1.0575 levels.

We prefer to take short position AUD/NZD around 1.0820, stop loss 1.0874 and target 1.0670 levels.