- AUD/NZD is trading around 1.0455 marks.
- Pair made intraday high at 1.0467 and low at 1.0420 marks.
- Intraday bias remains slightly bullish for the moment but upside likely to be limited.
- 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 1.0400 mark will take the parity down towards key supports around 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.
- Australia’s July consumer sentiment decrease to -3 % vs previous -1 %.
We prefer to take short position in AUD/NZD around 1.0460, stop loss 1.0497 and target 1.0351/ 1.0312 marks.
