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FxWirePro: Aussie trades marginally lower despite higher than expected AIG services index, RBA’s cash rate decision in focus

AUD/NZD is currently trading around 1.0866 marks. Pair made intraday high at 1.0886 and low at 1.0862 marks. Intraday bias remains neutral till the time pair holds immediate resistance at 1.0890 mark. A sustained close a…

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FxWirePro: Aussie trades marginally lower despite higher than expected AIG services index, RBA’s cash rate decision in focus
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  • AUD/NZD is currently trading around 1.0866 marks.
     
  • Pair made intraday high at 1.0886 and low at 1.0862 marks.
     
  • Intraday bias remains neutral till the time pair holds immediate resistance at 1.0890 mark.
     
  • A sustained close above 1.0874 will drag the parity higher towards key resistances at 1.0890/1.0927/1.0998/1.1072/1.1122 levels respectively.
     
  • Alternatively, a daily close below 1.0874 will take the parity down towards key supports around 1.0826/1.0776/1.0736/1.0620/1.0572 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 AIG services index increase to 59 vs previous 55.2.
     
  • Australia's S&P/ASX 200 index down 0.49 pct at 5,995.70 points in early trade.
     
  • RBA will release cash rate decision at 0430 GMT.

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