Pair is currently trading at 1.1230 levels. It made intraday high at 1.1232 and low at 1.1205 levels. Intraday bias remains bullish for the moment. On the downside, key support level falls at 1.1060 levels. A daily close…
It made intraday high at 1.1232 and low at 1.1205 levels.
Intraday bias remains bullish for the moment.
On the downside, key support level falls at 1.1060 levels.
A daily close below key support will drag the around 1.0937/ 1.0822/1.0570 levels thereafter.
Alternatively, current upward movement will take the parity towards key resistance at 1.1298/1.1590 marks thereafter.
In addition, 20D, 30D and 55D EMA suggests bullish trend.
Market will focus on RBNZ governor Wheeler speech as well as RBA’s monetary policy meeting minutes due tomorrow. This will provide further direction to the parity.
Trade idea:
Go long in AUD/NZD around 1.1220, stop loss 1.1144 and target 1.1298/ 1.1590 levels.
