FxWirePro: AUD/NZD fails to break key resistance at 1.0739, good to sell on rallies

• AUD/NZD is trading around 1.0660 marks.
   
• Pair made intraday high at 1.0715 and low at 1.0655 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.0739 marks.
   
• A sustained close above 1.0647 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
   
• On the other side, a daily close below 1.0526 will take the parity down towards key support around 1.0496(October 10, 2015 low) and 1.0456 marks respectively.
   
• Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart.
   
• Market awaits RBNZ rate decision due tomorrow.

We prefer to take short position in AUD/NZD around 1.0700, stop loss 1.0739 and target 1.0569 levels.