FxWirePro: AUD/NZD stabilizes below 1.05 mark after mixed housing data from Australia
Wednesday, November 30, 2016 12:58 AM UTC
- AUD/NZD is currently trading around 1.0485 marks.
- Pair made intraday high at 1.0501 and low at 1.0481 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 1.0532 marks.
- A sustained close above 1.0532 will drag the parity higher towards key resistances at 1.0618/1.0655/1.0751/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
- Alternatively, a consistent close below 1.0479 will take the parity down towards key supports around 1.0446, 1.0333, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.
- Australia’s October building approvals decreases to -12.6 % (forecast 1.5 %) vs previous -8.7 %.
- Australia’s October private sector credit increases to 0.5 % (forecast 0.4 %) vs previous 0.4 %.
- Australia’s October housing credit increases to 0.6 % vs previous 0.5 %.
- Australia’s October private house approvals decrease to -3.4 % vs previous 2.3 %.