AUD/NZD fails to break key support at 1.1148, good to buy on dips

• Pair is currently trading around 1.1170 levels.
   
• Pair made intraday high at 1.1196 and low at 1.1148 marks.
   
• Intraday bias remains bullish for the moment.
   
• Pair fails to fall below key support at 1.1148 and dragged the parity up around 1.1190 levels.
   
• Initial support levels are seen at 1.1148, 1.1064 and 1.0932 levels thereafter.
   
• Alternatively, reversal from key support suggests upside correction and will take the parity towards key resistance levels around 1.1298/ 1.1317 levels thereafter.
   
• A daily close above key resistance at 1.1298 will drag the parity towards 1.1590 marks.

We prefer to take long position in AUD/NZD around 1.1170, stop loss 1.1148 and target 1.1260/ 1.1298 marks.