FxWirePro: Aussie strengthens against major peers on the back of higher than expected trade balance data, RBA’s cash rate decision in focus
Tuesday, April 7, 2020 2:00 AM UTC
- AUD/NZD is currently trading around 1.0275 marks.
- Pair made intraday high at 1.0287 and low at 1.0246 marks.
- Intraday bias remains slightly bullish for the moment.
- A sustained close above 1.0286 will drag the parity higher towards key resistances around 1.0341, 1.0532, 1.06, 1.0654 and 1.0743 mark respectively.
- Alternatively, a daily close below 1.0255 will drag the parity lower towards key supports around 1.0197/1.0052/0.9950/0.9824/0.97 marks respectively.
- Australia’s trade balance stands at 4.36B vs 5.21B previous release (expected 3.75B).
- Australia’s S&P/ASX200 was trading 0.10 pct higher at 5,291.55 points.
- Australia’s AIG services index stands at 38.7 vs 47.0 previous release.
- RBA will release cash rate decision around 0430 GMT.