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FxWirePro: Aussie strengthens against major peers after export-import price index data

AUD/NZD is currently trading around 1.0719 marks. Pair made intraday high at 1.0720 and low at 1.0694 marks. Intraday bias remains bullish till the time pair holds key support at 1.0668 mark. A sustained close above 1.06…

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FxWirePro: Aussie strengthens against major peers after export-import price index data
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  • AUD/NZD is currently trading around 1.0719 marks.
     
  • Pair made intraday high at 1.0720 and low at 1.0694 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.0668 mark.
     
  • A sustained close above 1.0698 will drag the parity higher towards key resistances at 1.0802/1.0945/1.1072 levels respectively.
     
  • Alternatively, a daily close below 1.0698 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 Q1 export prices increase to 4.9 % vs previous 2.8 %.
     
  • Australia Q1 import prices increase to 2.1 % vs previous 2 %.
     
  • Australia's S&P/ASX 200 index down 0.06 pct at 5,918.10 points in early trade.

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