- AUD/NZD is currently trading around 1.0877 marks.
- Pair made intraday high at 1.0901 and low at 1.0871 marks.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1.0901 mark.
- A sustained close above 1.0900 will drag the parity higher towards key resistances at 1.0927/1.0998/1.1072/1.1122 levels respectively.
- Alternatively, a daily close below 1.0900 will take the parity down towards key supports around 1.0842/1.0776/1.0736/1.0620/1.0572 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Australia April trade balance G&S (A$) decrease to 977 mln au (forecast 1000 mln au) vs previous 1527 mln au.
- Australia April goods/services exports decrease to -2 % vs previous 1 %.
- Australia's S&P/ASX 200 index up 0.19 pct at 6,036.60 points in early trade.
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