FxWirePro: Aussie falls on the back of lower than expected PPI data
Friday, October 28, 2016 1:08 AM UTC
- AUD/NZD is currently trading around 1.0650 marks.
- Pair made intraday high at 1.0661 and low at 1.0647 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 1.0700 marks.
- A sustained close above 1.0700 will drag the parity higher towards key resistances at 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 1.0649 will take the parity down towards key supports around 1.0618, 1.0509, 1.0472, 1.0333, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.
- Australia’s Q3 PPI Q/Q increases to 0.3 % vs previous 0.1 % (expected 0.6%).
- Australia’s Q3 PPI Y/Y decreases to 0.5 % vs previous 1.0 %.
- Australia’s October HIA new home sales m/m decreases to 3.8 % vs previous 6.1 %.