FxWirePro: Kiwi gains against major peers on strong FPI data
AUD/NZD is trading around 1.1080 marks. Pair made intraday high at 1.1104 and low at 1.1075 marks. Today New Zealand released FPI data with positive numbers at 0.5% m/m vs -0.6% m/m previous release. Intraday bias remain…
Pair made intraday high at 1.1104 and low at 1.1075 marks.
Today New Zealand released FPI data with positive numbers at 0.5% m/m vs -0.6% m/m previous release.
Intraday bias remains neutral till the time pair holds key resistance at 1.1123 marks.
A daily close below 1.1062 will take the parity down towards 1.1016/ 1.0934 marks.
On the other side, a sustained close above key resistance at 1.1123 will drag the parity up towards 1.1298/1.1352/1.1590 marks.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
