• AUD/NZD is currently trading around 1.0531 marks.
   
• Pair made intraday high at 1.0547 and low at 1.0497 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1.0450 levels.
   
• On the top side, a sustained close above 1.0557 will drag the parity higher towards 1.0623/1.0727/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298 and 1.1317 levels respectively.
   
• Alternatively, a sustained break below 1.0450 mark will take the parity down towards key supports around 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.
   
• New Zealand commodity price index +2.0 percent m/m in July vs +3.7 percent previous release - ANZ BANK.
   
• In addition, New Zealand’s labour cost index released with the flat numbers at 0.4 percent Q/Q. It increases speculation that the RBNZ may extend its easing cycle.
   
• Australia’s July AIG services index increase to 53.9 vs previous 51.3.