FxWirePro: Aussie falls on the back of lower than expected PPI data
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 …
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 %.
