• AUD/NZD is trading around 1.0474 marks.
   
• Pair made intraday high at 1.0477 and low at 1.0473 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 1.0408 marks.
   
• A sustained close above 1.0571 is required to drag the parity higher towards 1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
   
• On the other side, a daily close below 1.0414 will take the parity down towards key supports around 1.0362 and 1.0231 marks respectively.
   
• Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Most Australian banks will be closed in observance of the Queen's Birthday.
  
  We prefer to take long position in AUD/NZD only above 1.0496, stop loss 1.0414 and target 1.0571/1.0647 levels.