FxWirePro: AUD/NZD remains supported above 1.1062, good to buy on dips
AUD/NZD is trading around 1.1097 marks. Pair made intraday high at 1.1099 and low at 1.1075 marks. The Australian dollar was the weaker performer of the two antipodean currencies on Tuesday as RBA decided to keep the cas…
Pair made intraday high at 1.1099 and low at 1.1075 marks.
The Australian dollar was the weaker performer of the two antipodean currencies on Tuesday as RBA decided to keep the cash rate on hold at a record-low 2.0% and soft trade data working against the so-called Aussie.
Intraday bias remains bullish till the time pair holds key support at 1.1062 marks.
A daily close below 1.1062 will take the parity down towards 1.1016/ 1.0934 marks.
On the other side, a sustained close above key resistance at 1.1123 will drag the parity up towards 1.1298/1.1352/1.1590 marks.
We prefer to take long position in AUD/NZD around 1.1081, stop loss 1.1062 and target 1.1228 marks.
