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FxWirePro- Major Pair market sentiment (CCI-ADX-EMA) setup

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FxWirePro: Aussie almost flat against major peers ahead of RBA meeting minutes

Tuesday, May 17, 2016 1:12 AM UTC

AUD/NZD is trading around 1.0745 marks.
Pair made intraday high at 1.0751 and low at 1.0726 marks.
Intraday bias remains bullish till the time pair holds key support at 1.0704 marks.
A daily close below 1.0704 will take the parity down towards 1.0651 and 1.0574 (February 12, 2016 low) marks.
On the other side, a sustained close above 1.0783 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.
Important to note here that 20D, 30D and 55D EMA heads down and confirms bearish trend.
RBA will release monetary policy meeting minutes at 0130 GMT.

We prefer to take long position in AUD/NZD around 1.0730, stop loss 1.0701 and target 1.0783/1.0823 marks.

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FxWirePro: Aussie almost flat against major peers ahead of RBA meeting minutes

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