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- AUD/NZD is currently trading around 1.0714 marks.
- Pair made intraday high at 1.0716 and low at 1.0692 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 1.0735 mark.
- A sustained close above 1.0699 will drag the parity higher towards key resistances at 1.0735/1.0802/1.0945/1.1072 levels respectively.
- Alternatively, a daily close below 1.0699 will take the parity down towards key supports around 1.0620/1.0572/1.0506/1.0443/1.0380/1.0305 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Australia April AIG manufacturing index decrease to 58.3 vs previous 63.1.
- Australia's S&P/ASX 200 index flat at 5,982.50 points in early trade.
- RBA will release cash rate decision at 0430 GMT.
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