FxWirePro: Aussie depreciates against major peers on the back of lower than expected trade balance data
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 clos…
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.
