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- AUD/NZD is currently trading around 1.1248 levels.
- It made intraday high at 1.1266 and low at 1.1238 marks.
- Today Australia released monetary policy meeting minutes, which suggests low inflation provides room for further easing if needed.
- Intraday bias remains bearish till the time pair holds key resistance at 1.1298 levels.
- A daily close above key resistance will drag the parity towards 1.1590 marks.
- Alternatively, reversal from key resistance suggests down side correction and will take the parity towards key support levels around 1.1170/ 1.1064 levels thereafter.
We prefer to take short position in AUD/NZD around 1.1260, stop loss 1.1298 and target 1.1191/1.1170 levels.
