• AUD/NZD is currently trading around 1.0499 marks.
   
• Pair made intraday high at 1.0511 and low at 1.0486 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.0592 levels.
   
• On the top side, a sustained close above 1.0623 will drag the parity higher towards 1.0727/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
   
• Alternatively, a sustained break below 1.0450 mark will take the parity down towards key supports around 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.
   
• Australia will release building approval and trade balance data at 0130 GMT; RBA monetary policy statement at 0430 GMT. Markets are pricing in a strong chance that the RBA will make history by cutting the cash rate to a record-low 1.5%.