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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 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.

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