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- AUD/NZD is trading around 1.0908 marks.
- Pair made intraday high at 1.0922 and low at 1.0886 marks.
- Today Australia released building approval data with positive numbers at 3.7% m/m vs 2.9% previous release.
- Intraday bias remains neutral till the time pair holds immediate resistance at 1.0927 marks.
- A daily close below 1.0832 will take the parity down towards 1.0801/1.0735/1.0651 marks respectively.
- On the other side, a sustained close above 1.0927 will drag the parity higher towards 1.0976/1.1062/1.1123/1.1298/1.1317 levels.
We prefer to take long position in AUD/NZD only above 1.0927, stop loss 1.0844 and target 1.0976/ 1.1062 marks.
