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- Since the beginning of the year, pair is consolidating in between 1.0970 to 1.0571 levels.
- Short term trend remains bearish till the time pair holds key resistance level at 1.0873 marks.
- Alternatively, recent downfall will take the parity around key support area at 1.06 marks.
- Initial resistance levels are seen at 1.0752, 1.0822 and 1.0970 levels.
- On the other side, key support levels are seen at 1.0694, 1.0647 and 1.0571 levels.
We prefer to take short position is AUD/NZD around 1.0750, stop loss 1.0873 and target 1.0618 levels.
