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- Pair is currently supported above 1.09 levels and trading around 1.0919 levels.
- It made intraday high at 1.0925 and low at 1.0795 levels.
- Today Australia released GDP data with positive figures at 0.6% Q/Q vs 0.5% market expectations.
- Parity broke key resistance level at 1.0876 and turns intraday bias bullish for the moment.
- On the top side, key resistance falls at 1.0970 levels and 1.1086 thereafter.
- Alternatively, reversal from key resistance will drag the pair back below 1.09 marks.
- A daily close below key support at 1.0876 will turn the bias bearish again.
We prefer to take long position in AUD/NZD around 1.09, stop loss 1.0795 and target 1.1086/1.1347 levels.
