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- Pair is currently trading at 1.1277 levels.
- It made intraday high at 1.1282 and low at 1.1224 levels.
- Intraday bias remains bullish for the moment.
- New Zealand's Official Cash Rate was slashed from 2.5% to 2.25% on Thursday morning.
- A daily close above key resistance at 1.1298 will drag the parity towards new high around 1.1590 levels.
- Alternatively, reversal from 1.1298 will turn the bias slightly bearish and take the parity towards 1.1066 levels.
- Key support levels are seen at 1.1167, 1.1071 and 1.0895 levels.
- On the other side, key resistance levels are seen at 1.1298, 1.1343 and 1.1439 levels.
We prefer to take long position in AUD/NZD around 1.1250, stop loss 1.1182 and target 1.1387/1.1576 levels.
