FxWirePro: Aussie trades marginally lower as AIG manufacturing index misses expectations
AUD/NZD is currently trading around 1.0786 marks. Pair made intraday high at 1.0813 and low at 1.0777 marks. Intraday bias remains bearish till the time pair holds key resistance at 1.0856 mark. A sustained close above 1…
Pair made intraday high at 1.0813 and low at 1.0777 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1.0856 mark.
A sustained close above 1.0808 will drag the parity higher towards key resistances at 1.0856/1.0927/1.0998/1.1072/1.1122 levels respectively.
Alternatively, a daily close below 1.0808 will take the parity down towards key supports around 1.0736/1.0620/1.0572/1.0506 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Australia May AIG manufacturing index decrease to 57.5 vs previous 58.3.
New Zealand Q1 terms of trade q/q decrease to -1.9 % (forecast -1.5 %) vs previous 1.5 % (revised from 0.8%).
Australia's S&P/ASX 200 index down 0.48 pct at 5,982.90 points in early trade.
