FxWirePro: Kiwi gains in early hours of Asia on robust retail sales data release
AUD/NZD is currently trading around 1.0658 marks. Pair made intraday high at 1.0699 and low at 1.0650 marks. Intraday bias remains bearish till the time pair holds key resistance at 1.0722 marks. A sustained close above …
Pair made intraday high at 1.0699 and low at 1.0650 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1.0722 marks.
A sustained close above 1.0709 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, current down fall will take the parity down towards key supports around 1.0528, 1.0497, 1.0450, 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.
New Zealand’s retails sales data released with positive numbers at 2.3% Q/Q vs 1.0% Q/Q previous release. In addition, core retail sales data released to 2.6% Q/Q vs 1.1% Q/Q previous release.
