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- AUD/NZD is currently trading around 1.0720 marks.
- Pair made intraday high at 1.0722 and low at 1.0708 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 1.0700 mark.
- A sustained close above 1.0713 will drag the parity higher towards key resistances at 1.0802/1.0945/1.1072/1.1113/1.1163/1.1238 levels respectively.
- Alternatively, a daily close below 1.0713 will take the parity down towards key supports around 1.0654/1.0550/1.0443 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 Feb manufacturing PMI decrease to 53.4 vs previous 55.6.
- Australia's S&P/ASX 200 index up 0.44 pct at 5,946.90 points in early trade.
- Poll - All 15 economists in poll see RBNZ holding cash rate at 1.75 pct on March 22.
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