FxWirePro: Aussie falls against major peers ahead of retail sales, trade balance data

• AUD/NZD is trading around 1.0627 marks.
   
• Pair made intraday high at 1.0647 and low at 1.0623 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.0739 marks.  
   
• A daily close below 1.0626 will take the parity down towards key support around 1.0574 (February 12, 2016 low) and 1.0506 marks respectively.
   
• Alternatively, reversal from key support and a sustained close above 1.0751 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 in a daily chart.
   
• Australia will release retail sales as well as trade balance data at 0130 GMT. Retail sales are expected to show a 0.3% m/m rise in April vs 0.4% m/m previous release.

We prefer to take short position in AUD/NZD only below 1.0622, stop loss 1.0738 and target 1.0569/ 1.0496 levels.