• AUD/NZD is trading around 1.0706 marks.
   
• Pair made intraday high at 1.0731 and low at 1.0628 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1.0610 marks.  
   
• On the top side, a sustained close above 1.0722 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
   
• Alternatively, a sustained break below 1.0611 mark will take the parity down towards key supports around 1.0560, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
   
• Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
   
• RBNZ says a decline in the exchange rate is needed.
   
• RBNZ says outlook for inflation has weakened due to high exchange rate.
   
• RBNZ says likely further policy easing will be required.