AUD/NZD is trading around 1.0487 marks. Pair made intraday high at 1.0504 and low at 1.0455 marks. Intraday bias remains neutral till the time pair holds initial support at 1.0470 marks. On the top side, a sustained clos…
Pair made intraday high at 1.0504 and low at 1.0455 marks.
Intraday bias remains neutral till the time pair holds initial support at 1.0470 marks.
On the top side, a sustained close above 1.0547 will drag the parity higher towards 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 daily close below 1.0455 will take the parity down towards key supports around 1.0408(June 9, 2016 low), 1.0362 and 1.0231 marks respectively.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart.
The Brexit decision did not influence the parity and pair remains firm below 1.05 marks.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
