FxWirePro: AUD/NZD back around 1.0450 mark, bias highly neutral
AUD/NZD is trading around 1.0455 marks. Pair made intraday high at 1.0475 and low at 1.0423 marks. Intraday bias remains neutral till the time pair holds key support at 1.0450 marks. On the top side, a sustained close ab…
Pair made intraday high at 1.0475 and low at 1.0423 marks.
Intraday bias remains neutral till the time pair holds key support at 1.0450 marks.
On the top side, a sustained close above 1.0547 will drag the parity higher towards 1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.0407(June 9, 2016 low) will take the parity down towards key supports around 1.0362 and 1.0231 marks respectively.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
