FxWirePro: AUD/NZD remains well supported above 1.07 mark, upside limited
AUD/NZD is trading around 1.0718 marks. Pair made intraday high at 1.0727 and low at 1.0691 marks. Intraday bias remains neutral for the moment. On the top side, a sustained close above 1.0754 will drag the parity higher…
Pair made intraday high at 1.0727 and low at 1.0691 marks.
Intraday bias remains neutral for the moment.
On the top side, a sustained close above 1.0754 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.
Alternatively, a sustained break below 1.0694 mark will take the parity down towards key supports around 1.0628, 1.0560, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
