- AUD/NZD is trading around 1.0487 marks.
- Pair made intraday high at 1.0504 and low at 1.0455 marks.
- Intraday bias remains neutral till the time pair holds initial support at 1.0470 marks.
- On the top side, a sustained close above 1.0547 will drag the parity higher towards 1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
- Alternatively, a daily close below 1.0455 will take the parity down towards key supports around 1.0408(June 9, 2016 low), 1.0362 and 1.0231 marks respectively.
- Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart.
- The Brexit decision did not influence the parity and pair remains firm below 1.05 marks.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
