FXWIREPRO: New Zealand Dollar Breaks All Key Resistances Against Aussie After Surprise Rate Cut by Rbnz

FXWIREPRO: New Zealand Dollar Breaks All Key Resistances Against Aussie After Surprise Rate Cut by Rbnz

• 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.

The material has been provided by InstaForex Company - www.instaforex.com