FxWirePro: Aussie gains in early hours of Asia on robust consumer sentiment data release
AUD/NZD is currently trading around 1.0701 marks. Pair made intraday high at 1.0708 and low at 1.0691 marks. Intraday bias remains neutral till the time pair holds key resistance at 1.0754 levels. In addition, a sustaine…
Pair made intraday high at 1.0708 and low at 1.0691 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1.0754 levels.
In addition, a sustained close above 1.0727 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.
Alternatively, reversal from key resistance will take the parity down towards key supports around 1.0655, 1.0497, 1.0450, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
Australia’s August consumer sentiment increase to 2% vs previous -3% m/m.
Australia will release home loans data at 0130 GMT.
In addition, at 0300 GMT RBA’s governor Stevens is due to speak at the Anika Foundation Luncheon, in Sydney.
