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FxWirePro: Aussie trades marginally higher on robust trade balance data

  • AUD/NZD is currently trading around 1.0741 marks.
     
  • Pair made intraday high at 1.0759 and low at 1.0734 marks.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1.0692 mark.
     
  • A sustained close above 1.0735 will drag the parity higher towards key resistances at 1.0826/1.0945/1.1072/1.1113/1.1163/1.1238 levels respectively.
     
  • Alternatively, a daily close below 1.0692 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.
     
  • Australia Jan trade balance G&S (A$) increase to 1055 mln au (forecast 300 mln au) vs previous -1358 mln au.
     
  • Australia Jan goods/services imports decrease to -2 % vs previous 6 %.
     
  • Australia Jan goods/services exports increase to 4 % vs previous 2 %.
     
  • Australia's S&P/ASX 200 index up 0.38 pct at 5,924.20 points in early trade.

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ARAnnual Primary Balance*

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