FxWirePro: AUD/NZD falls below key support at 1.0705, intraday bias remains bearish
AUD/NZD is trading around 1.0681 marks. Pair made intraday high at 1.0722 and low at 1.0679 marks. Intraday bias remains bearish for the moment. A daily close below 1.0700 will take the parity down towards 1.0651 and 1.0…
Pair made intraday high at 1.0722 and low at 1.0679 marks.
Intraday bias remains bearish for the moment.
A daily close below 1.0700 will take the parity down towards 1.0651 and 1.0574 (February 12, 2016 low) marks.
On the other side, a sustained close above 1.0733 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.
Important to note here that 20D, 30D and 55D EMA heads down and confirms bearish trend.
We prefer to take short position in AUD/NZD around 1.0700, stop loss 1.0783 and target 1.0574 levels.
