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FxWirePro: AUD/NZD fails to fall below 1.03 mark, bias remains neutral

  • AUD/NZD is trading around 1.0370 marks.
     
  • Pair made intraday high at 1.0377 and low at 1.0351 marks.
     
  • Intraday bias remains neutral for the moment.  
     
  • On the top side, a sustained close above 1.0450 will drag the parity higher towards 1.0538/1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
     
  • Alternatively, a sustained break below 1.0315(May 05, 2015 low) will take the parity down towards key supports around 1.0261 and 1.0109 marks respectively.
     
  • Australia’s May housing finance decrease to -1 % (forecast -2 %) vs previous 1.7 %.
     
  • Australia’s May invest housing finance increase to 3.9 % vs previous -5 %.

We prefer to take long position in AUD/NZD around 1.0350, stop loss 1.0312 and target 1.0450 marks.

  • Market Data
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