FXWIREPRO: AUD/NZD Falls Below 1.12 Mark, Good to Buy on Dips
- AUD/NZD is trading around 1.1193 marks.
- Pair made intraday high at 1.1221 and low at 1.1291 marks.
- Intraday bias remains bearish till the time pair holds initial resistance at 1.1252 levels.
- A daily close below 1.1197 will take the parity down towards 1.1148/1.10 marks.
- On the other side, a sustained close above key resistance at 1.1298 will drag the parity up towards 1.1352/1.1590 marks.
- Important to note here that, overall trend remains bullish as 20D, 30D and 55D EMA heads up in daily chart and confirms bullish trend.
We prefer to take long position in AUD/NZD around 1.1170, stop loss 1.1128 and target 1.1252/ 1.1298 levels.
The material has been provided by InstaForex Company - www.instaforex.com