FxWirePro: Aussie strengthens against major peers on the back of higher than expected retail sales data
Wednesday, July 4, 2018 2:04 AM UTC
- AUD/NZD is currently trading around 1.0952 marks.
- Pair made intraday high at 1.0955 and low at 1.0921 marks.
- Intraday bias remains bullish till the time pair holds key support at 1.0920 mark.
- A sustained close above 1.0931 will drag the parity higher towards key resistances at 1.0998/1.1072/1.1122 levels respectively.
- Alternatively, a daily close below 1.0931 will take the parity down towards key supports around 1.0870/1.0782/1.0658/1.0572/1.0502 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Australia May 2018 retail sales m/m increase to 0.4 (forecast 0.3 ).
- Australia May 2018 trade balance G&S (A$) increase to 827 (forecast 1200).
- Australia's S&P/ASX 200 index down 0.01 pct at 6,209.60 points in early trade.