AUD/NZD is trading around 1.0326 marks. Pair made intraday high at 1.0367 and low at 1.0315 marks. Intraday bias remains bearish till the time pair holds key resistance at 1.0450 marks. On the top side, a sustained close…
Pair made intraday high at 1.0367 and low at 1.0315 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1.0450 marks.
On the top side, a sustained close above 1.0450 will drag the parity higher towards 1.0538/1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.0315(May 05, 2015 low) will take the parity down towards key supports around 1.0261 and 1.0109 marks respectively.
Today S&P revises Australia’s sovereign credit outlook down to negative from stable; Current rating is AAA.
We prefer to take short position in AUD/NZD only below 1.0315, stop loss 1.0450 and target 1.0261/ 1.0109 marks.
