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FxWirePro: Kiwi trades marginally lower after mixed economic data

AUD/NZD is currently trading around 1.0582 marks. Pair made intraday high at 1.0588 and low at 1.0559 marks. Intraday bias remains slightly bullish till the time pair holds key support at 1.0556 mark. A sustained close a…

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FxWirePro: Kiwi trades marginally lower after mixed economic data
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  • AUD/NZD is currently trading around 1.0582 marks.
     
  • Pair made intraday high at 1.0588 and low at 1.0559 marks.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1.0556 mark.
     
  • A sustained close above 1.0559 will drag the parity higher towards key resistances at 1.0627/1.0652/1.0705/1.0802/1.0945/1.1072 levels respectively.
     
  • Alternatively, a daily close below 1.0559 will take the parity down towards key supports around 1.0443/1.0380/1.0305 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
     
  • New Zealand March NBNZ business outlook decrease to -20 % vs previous -19 %.
     
  • New Zealand March NBNZ own activity increase to 21.8 % vs previous 20.4 %.

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