FxWirePro: Kiwi gains in early Asia on robust PPI data
AUD/NZD is currently trading around 1.0761 marks. Pair made intraday high at 1.0790 and low at 1.0759 marks. Intraday bias remains bearish till the time pair holds key resistance at 1.0799 marks. A daily close below 1.07…
Pair made intraday high at 1.0790 and low at 1.0759 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1.0799 marks.
A daily close below 1.0790 will take the parity down towards key supports around 1.0700, 1.0667, 1.0610, 1.0594, 1.0552, 1.0516, 1.0460, 1.0412 and 1.0370 marks respectively.
On the other side, a sustained close above 1.0790 will drag the parity higher towards key resistances at 1.0799/1.0865/1.0912/1.0966/1.1062/1.1148 levels respectively.
New Zealand released PPI input data with positive numbers at 0.8% q/q (forecast 0.7% q/q) as well as PPI output data at 1.4% q/q (forecast 1.1% q/q).
Australia’s May consumer sentiment m/m decreases to -1.1 % vs previous -0.7 %.
