FxWirePro: Kiwi falls against major peers after trade balance data
AUD/NZD is currently trading around 1.0687 marks. Pair made intraday high at 1.0689 and low at 1.0666 marks. Intraday bias remains neutral for the moment. On the top side, a sustained close above 1.0727 will drag the par…
Pair made intraday high at 1.0689 and low at 1.0666 marks.
Intraday bias remains neutral for the moment.
On the top side, a sustained close above 1.0727 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.0652 mark will take the parity down towards key supports around 1.0628, 1.0560, 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. Current upside movement is short term trend correction only.
Today New Zealand released trade balance data with flat numbers at 127M m/m vs 348M (revised down from 358M) m/m previous release.
In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion).
