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Aussie falls against kiwi after RBA’s march meeting minutes, sell on rallies

  • AUD/NZD is currently trading around 1.1248 levels.
     
  • It made intraday high at 1.1266 and low at 1.1238 marks.
     
  • Today Australia released monetary policy meeting minutes, which suggests low inflation provides room for further easing if needed.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1.1298 levels.
     
  • A daily close above key resistance will drag the parity towards 1.1590 marks.
  • Alternatively, reversal from key resistance suggests down side correction and will take the parity towards key support levels around 1.1170/ 1.1064 levels thereafter.


We prefer to take short position in AUD/NZD around 1.1260, stop loss 1.1298 and target 1.1191/1.1170 levels.

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